Indonesian venture capital firm PT Esta Dana Ventura (EDV) has roped in Dutch development bank FMO and Sampoerna Investama as new shareholders to strengthen its capital base and expand funding for MSMEs across the country, according to an announcement on Thursday.
FMO and Sampoerna Investama have invested a total of $7 million as part of this round, DealStreetAsia has learned.
Established in 2015 and licensed by Indonesia’s Financial Services Authority (OJK), EDV provides alternative financing to underserved communities through more than 200 branches in 40 regions. The company serves nearly 195,000 members and has disbursed over 471 billion rupiah in financing, while also offering mentoring and education to entrepreneurs.
FMO has over 55 years of experience promoting sustainable private sector growth in developing and emerging markets, while Sampoerna Investama, a holding company owned by the Sampoerna family, has a long track record of strategic investments across industries in Indonesia.
“Our investment will accelerate the sustainable growth of EDV’s portfolio and expand financial inclusion for the underbanked in Indonesia,” said Cornelis van Aerssen, manager of private equity (Financial Institutions) at FMO.
With the backing of its new shareholders, EDV aims to scale its operations nationwide while reinforcing its role as one of Indonesia’s leading microfinance players focused on inclusive and sustainable growth.
