INA and Granite Asia Announce Strategic Partnership to Explore Investments of Up to USD 1.2 Billion for Indonesia’s Digital Transformation

Granite Asia (formerly GGV Capital Asia) has partnered with the sovereign wealth fund Indonesia Investment Authority (INA) to invest as much as USD 1.2 billion to help accelerate the digital transformation of Southeast Asia's largest economy. 

The Singapore-based venture capital firm — which rebranded as Granite Asia in March after splitting with its U.S. counterpart — said Monday its investments in Indonesia will focus on both equity and hybrid capital solutions for Indonesian businesses with existing operations as well as those introducing technologies that can benefit the country in the long-term.

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“This partnership will enable us to introduce transformative technologies to Indonesia, facilitating the digital transformation of key sectors and strengthening the broader technology ecosystem,” CEO of INA Ridha Wirakusumah.

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