Formation 8 Prepares Five Trillion Rupiah to Invest in Southeast Asia and South Korea
Prayogo Ryza - 30 June 2015
Formation 8 has prepared specific fund called the F8 Asia Growth worth up to $400 million (more than five trillion Rupiah) to invest at startups in South Korea and Southeast Asia. They intend on investing at ten startups top.
As The New York Times reported, Formation 8 has submitted their F8 Asia Growth plan to SEC. Formation 8 will reportedly prepare up to $50 million (more than 600 billion Rupiah) per startup.
Even though Formation 8 is familiar to Series A funding, this round of investment leads them to invest at startup which are in their growth stage. The company has been involved in several investment projects, including Facebook’s Oculus and Salesforce’s RelatelQ.
Formation 8 expects to provide Silicon Valley’s access and skills to startups they fund. To achieve the goal, the company recruited Joel Sng, whom based in Singapore, as their investment partner. Sng was previously involved in the investment of the current hottest smartphone maker, Xiaomi. He also invested at Facebook and Airbnb.
In Southeast Asia, especially Indonesia, the growth of startup can be said quite significant. Many startups pop out with new ideas or old ideas being executed using new approach. More investors in the region means more opportunities for startups to have significant expansion.
This condition must be used by startups, especially Indonesia-based ones, to beautify their business and make it worthy enough to be funded. Don’t let SB-ISAT Fund’s complaint runs for too long.