Convergence Ventures

Convergence Ventures is a prominent early-stage venture capital firm headquartered in Jakarta, Indonesia, established in 2014. The firm has consistently focused on identifying and nurturing technology companies within the burgeoning Indonesian digital economy. Their investment thesis centers on backing innovative startups that leverage technology to address significant market opportunities across various sectors, including fintech, e-commerce, logistics, and SaaS. They aim to provide not only capital but also strategic guidance and operational support to their portfolio companies, leveraging their deep understanding of the local market dynamics.

The firm launched its inaugural fund in 2014, securing approximately $30 million to deploy into promising Indonesian tech ventures. This initial fund primarily targeted seed and early Series A rounds, with typical investments ranging from $100,000 to $2 million. Building on the success of its first fund, Convergence Ventures subsequently raised a second fund in 2017, which reportedly closed at $50 million. This larger capital pool allowed the firm to expand its investment capacity, enabling it to participate in more substantial Series A rounds, with individual check sizes potentially reaching up to $5 million.

Convergence Ventures has played a significant role in the growth of Indonesia's startup ecosystem, backing several companies that have gone on to achieve considerable success and attract follow-on funding from global investors. Their portfolio includes notable names such as Moka (acquired by Gojek), Xendit, Kredivo, and Sociolla, demonstrating a strong track record in identifying high-potential businesses. The firm's strategy emphasizes long-term partnerships with founders, providing hands-on support in areas like talent acquisition, market expansion, and strategic partnerships. Their commitment to the Indonesian market and their early-stage focus position them as a key enabler for the next generation of tech leaders in the region.