Kejora Ventures, an Indonesian venture capital firm, has held the final close of its joint venture (JV) fund with South Korea (SK)-based peer InterVest Co. at more than $100 million.
The fund secured the new capital from limited partners including Korea Development Bank, Korea Venture Investment Corp., NH Investment & Securities and Industrial Bank of Korea, among others.
With the funds raised, the latest fund, Kejora-InterVest Star Growth Fund, will continue providing capital of $5 to $10 million for each potential technology startup investment in their growth stage.
Kejora-InterVest Star Growth Fund has almost deployed 30 percent of the total capital raised. Recently, the fund participated in Indonesian last mile delivery startup SiCepat Ekspres' $50 million Series A round.