Indonesia Investment Authority and Granite Asia Form $1.2 Bn Strategic Partnership

Indonesia Investment Authority (INA) and Granite Asia, have entered into a strategic partnership, formalized through an Investment Framework Agreement (IFA), to jointly make investments that will accelerate digital transformation and bolster growth within Indonesia’s burgeoning technology ecosystem.

This collaboration shows a common goal to develop Indonesia's technology sector and to give companies in many sectors the funding and resources they need to facilitate digital integration or introduce cutting-edge innovations to the country.

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"Engaging in partnership with Granite Asia, a prominent investor with a distinguished 24-year track record at the forefront of technology investing, aligns with our strategic sector focus in Digitalization and Digital Infrastructure. Their deep expertise in both technology and tech-enabled businesses aligns closely with INA’s strategic priorities of fostering innovation and driving sustainable growth within Indonesia. This partnership will enable us to introduce transformative technologies to Indonesia, facilitating the digital transformation of key sectors and strengthening the broader technology ecosystem. Together, we aim to lay a strong foundation for Indonesia’s future by bringing forward the best global innovations that will contribute to the country’s long-term economic development", Ridha Wirakusumah, CEO of INA said.

Through this partnership, INA and Granite Asia will deploy up to USD 1.2 billion into investment opportunities that align with the strategic priorities of both organizations.

"This collaboration with INA presents a unique opportunity for us to combine Granite Asia’s global expertise in technology investing with INA’s deep local insights and strategic vision for Indonesia. We recognize the immense potential of Indonesia's rapidly evolving economy and technology ecosystem and are excited to partner with INA to help accelerate this transformation. By leveraging both equity and hybrid capital solutions, we can offer tailored financing that meets the diverse needs of businesses at various stages of their technology journey. Together, we will drive innovation, foster sustainable growth, and unlock long-term value for Indonesia’s economy, helping to position the country as a leader in the region’s technology-driven future", Jenny Lee Senior, Managing Partner of Granite Asia said.

 Indonesian enterprises and companies with a strong Indonesia nexus—whether through existing operations or by introducing innovations that can help the local market over the long term—will be targeted for equity and hybrid capital investments.

About Granite Asia

Granite Asia, formerly known as GGV Capital Asia, is Asia’s leading multi-asset investment platform. Headquartered in Singapore, it invests in the APAC region including Southeast Asia, Japan, China, India, and Australia.

About Indonesia Investment Authority (INA)

Indonesia Investment Authority is Indonesia’s sovereign wealth fund mandated to increase investment to support the country’s sustainable development and build wealth for its future generations.

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