The Singapore Venture Capital & Private Equity Association (SVCA) and the Asosiasi Modal Ventura Untuk Startup Indonesia (AMVESINDO) – also known as the Indonesia Venture Capital & Startup Association – have jointly announced the creation of the ASEAN Venture Council (AVC). A Memorandum of Understanding (MOU) to this effect was signed on August 30 in the presence of Indonesian President Jokowi Widodo.
The MoU settles the terms of collaboration between the SVCA and the AMVESINDO in strengthening and promoting regional entrepreneurial and financial ecosystem across ASEAN.
Reportedly focusing on the development of venture capital (VC) activity in the region, the growth in number of deals in ASEAN countries has been mainly due to cross-border activity within the region, with VC firms such as 500 Startups and East Ventures driving deal activity. Read more…