The latest news in investment offerings, financial products, and other services relative to wealth advisors and their clients.

AC Ventures, Indonesia
AC Ventures has unveiled the final close of its fifth investment fund, ACV Capital V, totalling $210 million, including co-investment funds.

Financial groups in the US, Middle East and North Asia were among those investing in the fund. More than half of commitments were made by institutions who had engaged with this fund before, AC Ventures said.

Explaining the fund’s rationale, AC argued that Indonesia’s digital economy, worth $82 billion last year, is expected to surge to $360 billion by the end of the decade, demonstrating its potential for tech investors.

“Indonesia stands out as a vibrant investment hub, thriving amidst global economic shifts,” founding partner Pandu Sjahrir said. “Our growth is fuelled by a young and growing population, rising prosperity, and a stable pro-investment government. On this trajectory, Indonesia is on course to be among the top 10 largest economies in the world over the coming decade.”

ACV Fund V has started putting capital to work, announcing investments such as rounds in Indonesian electric vehicle manufacturer MAKA Motors, sustainable farming startup Koltiva, and more.

AC Ventures has more than $500 million in assets under management, invested across five funds. Since 2012, the firm’s partners have invested in more than 120 technology companies in the region.

(Top, left to right) Pandu Sjahrir, founding partner; Michael Soerijadji, founder and managing partner

(Bottom, left to right) Adrian Li, founder and managing partner and Helen Wong, managing partner ACV.