Nik Jhangiani

The eFishery scandal, weak IPO pipeline, and tightening governance scrutiny have redrawn the investor map. Yet, not all is bleak. New Retail is rising. Early-stage still has fire. And Fore Coffee’s IPO shows the public market is waking up. Dive into the most important numbers shaping Indonesia’s tech landscape below 👇 - Indonesia startup funding in H1 2025 reached $161.3M, down 54.3% YoY - In Q1 2025 alone, funding dropped nearly 97% YoY—largely triggered by the eFishery fraud case - 46 total deals were recorded in H1 2025, down from 68 in the same period last year - Series A dominated with $74M across 10 deals, while Series B+ activity was minimal (only 6 Series B and 1 Series C1 deal) - Seed & Pre-Series A secured around $40M from 25 deals, showing early-stage resilience despite overall caution - New Retail was the most funded vertical, led by D2C brands like Hangry, SeIndonesia, and one% Nutrition - M&A activity doubled to 4 deals - Only 1 IPO in H1: Fore Coffee (April 2025), raising IDR 353B and surging +34% on debut. Fore Coffee market cap hit IDR 5.57T (USD 337M) with IDR 1.04T (USD 64M) in 2024 revenue - Another tech IPO, Indokripto Koin Semesta Tbk ($COIN) launched in July 2025 (H2), surging +144% on day one - Southeast Asia recorded 7 IPOs in H1 2025 (▲40% YoY), while unicorn creation stagnated - Indonesia's share remains small and shrinking—raising alarms over governance, regulatory clarity, and exit-readiness Let’s fix governance, build trust, and make Indonesia investable again. Link to complete report in the comment! #StartupFunding #IndonesiaTech #VentureCapital #SEAtech #DigitalEconomy #Startups #EmergingMarkets #InvestInIndonesia DSX VenturesDiscovery/Shift DailySocial.id - Indonesian Startup Media & Research

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There have been many recent reports out from the large secondary advisory shops. Some interesting takeaways: 🔵 HEC with Evercore compared performance of GP-led deals vs buyout deals on 2018-2022 vintages and found buyout deals had a mean TVPI of 1.34x vs GP-led portfolio sampling showing 1.53x. The see a "positive selection bias of best-performing assets that GPs wish to "buy again" for another investment cycle". 🔵 40% of LP deals have pricing deferral (pay some now pay some later) which helps buyers reach higher prices. This is almost double 20 2024. Is this a sign of buyers stretching on price? (NB at Kline Hill Partners we ran the numbers on our first 500 deals and had deferrals in less than 15 deals). 🔵 Market intermediation has inched up to 86% for all of secondaries from 80% a few years ago. Looking at this in the reverse, sellers are 25% less likely to run sale processes on their own. 🔵 Looking at sales by geography Middle East is up to 7% of sales and APAC (~Asia) is at 14%. Not long ago, many secondary funds downsized local efforts to find sellers in Asia due to low volume - is it turning the corner finally? 🔵 Just over half of GP-led deals were closed at greater than 13x EBITDA (as of record date), up from 37% in 2H 2024. Question is if the difference company quality or buyers paying up? _____ Check out the SECONDARY SNAPSHOT for current insights on secondaries with top industry leaders: 🔷 Spotify: https://lnkd.in/g5iaQUgZ 🔷 Apple: https://lnkd.in/gtBgT4XJ

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Consumer-focused VC firm Venturi Partners has announced the first close of its second fund at $150 million, with a total target of $225 million expected to close within 12 months. The fund plans to invest $15–40 million in 10 companies across high-growth consumer sectors over the next five years, aiming for two investments per year. Lauren Burns | Rishika Chandan | Sarvesh Nevatia | Nicholas Cator Read full article link in the commment 👇 #venturipartners #venturecapital #vc #funds #india #singapore #startupnews

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