Jakarta, CNBC Indonesia – Growtheum Capital managed to raise US$ 567 million (Rp 8.69 trillion) for its first managed fund. The capital managed by the Singapore-based private equity firm is used to invest in Southeast Asia and India.
In the past year, Growtheum Capital has announced several funding to Indonesian companies, namely Allo Bank, Allo Fresh, and Mitra Plumbon Hospital. They also fund the IDP dairy company in Vietnam.
The news of the closing of Growtheum Capital’s first managed fund was reported by Asian Deal Street And Bloomberg.
The two founders of Growtheum Capital are Choo Koon Po and Amit Kunal. Both are former employees of GIC, an investment fund management company owned by the Singaporean government.
Growtheum invested in Allo Fresh through Berani Investment Pte Ltd., in collaboration with PT Bukalapak Tbk. and PT Trans Retail Indonesia. Meanwhile, their investment in Mitra Plumbon Healthcare Group was announced last month. Mitra Plumbon is a hospital group from Cirebon.
Meanwhile, Growtheum’s investment in Allo Bank was carried out in collaboration with Salim Group, CT Corp, Bukalapak, Grab, and Carro.
In Growtheum’s advisory board, there are several well-known figures in the Indonesian business world including Emtek CEO Alvin Sariaatmadja, Arif P. Rachmat from the Triputra Group, Traveloka CEO Ferry Unardi, to Deputy Main Director of Avia Avian Ruslan Tanoko.
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