Monk’s Hill Ventures

Founded in 2014 by entrepreneurs Peng T. Ong and Kuo-Yi Lim, Monk’s Hill Ventures (‘MHV’) is a venture capital firm investing in early-stage technology startups in Southeast Asia. Backed by institutional investors and family offices worldwide, MHV works with great entrepreneurs to use technology to improve the lives of millions of people in the region. We take a first-principles approach in how we operate and make decisions at MHV. We break down ideas and business models to understand the fundamentals. Since our founding in 2014, Monk’s Hill Ventures has invested in more than 20 fast-growing startups spanning multiple business models and industry verticals. We look to work with founders in the early stages of the development of their businesses, and typically invest at the Series A stage. We are entrepreneurs backing entrepreneurs. This runs in our DNA. With the utmost respect for the founder, the firm is led by entrepreneurs and operators, CEOs, and CTOs of successful tech companies both in Asia and in Silicon Valley. Our footprint spans across Southeast Asia with on-the-ground teams in Singapore, Indonesia, Malaysia, Vietnam and Thailand. Our network comprises entrepreneurs, investors, former CEOs, engineers, academics, media and a team of operating advisors with strong domain expertise from cybersecurity, data science, financial services, to healthcare, to provide our founders with the right access and advice as they scale and build.

Michele Daoud

Partner

Kuo-Yi Lim

Co-Founder and Managing Partner

Justin Nguyen

Partner

Past deals in Indonesia

DELOS

Series A in 2023
DELOS is a science-driven aqua-tech company that designs and operates aquafarms seeking to disrupt the traditional and fragmented aquaculture industry in Indonesia. The Company aims to jumpstart what it calls the “Blue Revolution”. The vision is to help progress Indonesia into an international aquaculture-based seafood production powerhouse within the next decade. The revolution will be a radical shift to drive the growth and modernization of the ~US$ 2.5 billion Indonesian aquaculture industry and further its integration into the global seafood supply chain. DELOS has successfully launched its farming-as-a-service product, AquaHero, a full-stack farm productivity system that combines scientific expertise, technology, and operational excellence to boost farm productivity and profitability. AquaHero utilizes top-class data collection methods and a cutting-edge biological model to predict and mitigate harvest risk, a model that will be trained on hundreds of shrimp ponds within the DELOS ecosystem across Indonesia. DELOS has also launched AquaLink, a harvesting and logistics platform that allows it to capture and provide sustainable and traceable seafood supply downstream in the value chain. The company is currently responsible for producing and distributing thousands of tons of shrimp annually, and has taken steps to integrate its supply into the US$ 300 billion global seafood market. DELOS aims to ensure the traceability and sustainability of its supply chain to streamline global integration. The company has, thereby, embedded sustainable practices into its operations, and will allow stakeholders visibility into its supply chain through its AquaHero and AquaLink platforms.

Dagangan

Series B in 2022
Dagangan is a technology-driven rural commerce platform focused on providing affordable access to daily necessities for rural communities in Indonesia. By facilitating connections between producers and consumers, Dagangan enables businesses to penetrate deeper into smaller towns and rural areas, supporting their growth through both digital and offline channels. The platform adopts a hub-and-spoke distribution model, allowing rural consumers to purchase essential products from a network of suppliers efficiently. Additionally, Dagangan empowers micro-entrepreneurs in these communities to sell local products and services, enhancing their economic self-sufficiency. Through its initiatives, Dagangan aims to accelerate economic development in Indonesia by fostering greater opportunities for all involved.

Credibook

Series A in 2022
Credibook is a startup focused on assisting Indonesian retail wholesalers in managing their financial operations through a digital debt logbook application. This platform aims to streamline the tracking of receivables and payables, enhancing the efficiency of inventory sourcing within the supply chain. The application offers various services, including debt record management, accounts payable and receivable tracking, personal debt management, and reminders for overdue payments. By digitizing these financial processes, Credibook enables business owners to effectively manage their operations using technology. The company plans to expand its reach across Indonesia and diversify its offerings to serve additional business sectors.

Dagangan

Series A in 2021
Dagangan is a technology-driven rural commerce platform focused on providing affordable access to daily necessities for rural communities in Indonesia. By facilitating connections between producers and consumers, Dagangan enables businesses to penetrate deeper into smaller towns and rural areas, supporting their growth through both digital and offline channels. The platform adopts a hub-and-spoke distribution model, allowing rural consumers to purchase essential products from a network of suppliers efficiently. Additionally, Dagangan empowers micro-entrepreneurs in these communities to sell local products and services, enhancing their economic self-sufficiency. Through its initiatives, Dagangan aims to accelerate economic development in Indonesia by fostering greater opportunities for all involved.

Danacita

Series A in 2021
Danacita is an ErudiFi company that is on a mission to democratize access to higher education in Indonesia. It has funded students from over 100 tertiary institutes throughout the country and is registered with OJK as a P2P platform.

ErudiFi

Series A in 2021
ErudiFi is a technology company focused on making education more affordable in Southeast Asia, operating under the names Danacita in Indonesia and Bukas in the Philippines. The company has developed an education financing platform that assists students in securing low-interest educational loans. By leveraging tech-enabled partnerships with leading universities and vocational schools, ErudiFi simplifies the loan application process, allowing students to apply online and receive approval based on factors such as family income, area of study, and academic merit. This approach not only alleviates the burden of lengthy documentation but also enhances access to education, thereby contributing to generational transformation and a brighter future for students in the region.

Crowde

Series A in 2019
CROWDE is a technology and financial company focused on agriculture, aiming to support over 30 million Indonesian farmers by providing essential business infrastructure. The company operates a peer-to-peer lending and crowdfunding platform that connects farmers with retail investors, enabling them to raise capital for their farming operations. CROWDE offers access to financing, cost-effective agricultural inputs, and data-driven market insights, while also facilitating efficient logistics for fresh produce and developing markets for farmers' products. By integrating various components of the agricultural ecosystem—from suppliers to customers—CROWDE enhances the overall efficiency and sustainability of agriculture in Indonesia. The company's mission is driven by a commitment to empower both farmers and investors, fostering a collaborative environment for agricultural growth and innovation.

STOQO

Series A in 2018
STOQO Technology operates an online marketplace tailored for small restaurant and hotel owners in Indonesia, enabling them to bulk source raw materials directly from manufacturers at competitive prices. Founded in 2016 and based in Jakarta, the company offers a platform that simplifies the procurement process for culinary businesses by providing a wide range of supplies, including food ingredients, beverages, and cleaning products. Through its application, users can efficiently manage their sourcing needs, allowing them to focus more on customer service and operational efficiency. By connecting food industry players with major manufacturers and distributors, STOQO aims to streamline back-end operations and enhance the overall supply chain for its clients.

Waresix

Seed Round in 2018
Waresix is a logistics platform based in Jakarta, Indonesia, that specializes in freight forwarding, warehousing, and land transportation. The platform facilitates the connection between business owners and professional warehouse operators, allowing users to access on-demand warehouse services. Waresix addresses the growing demand for flexible warehousing solutions, particularly in the expanding e-commerce market. By matching unused warehouse space with businesses in need, the platform enables clients—including retailers, distributors, and manufacturers—to effectively manage inventory, adapt to variable demand, and streamline operations through features such as documentation management and billing.

ErudiFi

Seed Round in 2018
ErudiFi is a technology company focused on making education more affordable in Southeast Asia, operating under the names Danacita in Indonesia and Bukas in the Philippines. The company has developed an education financing platform that assists students in securing low-interest educational loans. By leveraging tech-enabled partnerships with leading universities and vocational schools, ErudiFi simplifies the loan application process, allowing students to apply online and receive approval based on factors such as family income, area of study, and academic merit. This approach not only alleviates the burden of lengthy documentation but also enhances access to education, thereby contributing to generational transformation and a brighter future for students in the region.
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