About MDI Ventures
MDI Ventures is a venture capital firm founded in 2015. It is primarily based out of Jakarta, Indonesia. As of Jul 2026, MDI Ventures is an active investor, having invested in 95 companies, with 1 new investment in the last 12 months. It primarily invests in Seed round in Indonesia based startups. Its investments are spread across a wide range of sectors from Enterprise Applications to FinTech and Consumer. Most recently it participated in the $***** Series C round of Whale Overall, MDI Ventures portfolio has seen 6 unicorns, 4 IPOs and 10 acquisitions including key companies like MPL, NIUM and Akulaku. A lot of funds co-invest with MDI Ventures, with names like Arise sharing a substantial percentage of its portfolio. MDI Ventures has team of 18 people including 1 partners.Key Metrics
Team Members
Portfolio Sectors
Rounds of Entry
Series B, Seed & 3 more
Portfolio IPOs
Portfolio Acquisitions
Portfolio Unicorns
MDI Ventures' List of Top Investments
MDI Ventures has a portfolio of 95 companies, including 6 unicorns. Their most notable investments are in Fazz and Cyfirma Security.Their portfolio spans across Indonesia, Singapore, United States and 9 more locations. They have invested in Enterprise Applications, FinTech, Consumer and 28 other sectors, across stages such as Series B, Seed and 3 more. Here is the list of top investments by MDI Ventures:1. MPL
Operator of an online platform providing real money skill-based gaming. The platform offers various card, puzzle, sports, and casual games. Users can participate in contests and tournaments. Winnings are credited to user accounts and can be withdrawn.
Key facts about MPL
- Founded Year: 2018
- Location: Bengaluru (India)
- Annual Revenue: $100M - $500M as on Mar 31, 2025
- Valuation: $*****
- Stage: Series E
- Total Funding till date: $401M
- Employee Count: 435 as on May 31, 2025
- Investors: Founders Circle Capital, Pegasus Tech Ventures and 73 Others
- Latest Funding Round: Series E, Feb 09, 2025, $*****
- Highlight: Editors' Pick
2. NIUM
Cross-border money transfer solutions for businesses. It provides tools to assist in sending, receiving, and making payments. It offers remittance-as-a-service technology to businesses in the fin-tech, travel, e-commerce, and banking sectors. It also offers APIs to support reporting, tracking, book-keeping, reconciliation, invoicing, and compliance solutions.
Key facts about NIUM
- Founded Year: 2014
- Location: Singapore (Singapore)
- Annual Revenue: SGD 100M - 500M as on Dec 31, 2023
- Valuation: $*****
- Stage: Series E
- Total Funding till date: $312M
- Employee Count: 1,068 as on Jun 30, 2026
- Investors: GIC, Riverwood Capital and 35 Others
- Latest Funding Round: Series E, Jun 05, 2024, $*****
- Highlight: Editors' Pick
3. Akulaku
Online marketplace for point of sale financing. It provides financing for multiple online/offline products including mobiles, laptops, electrical household appliances, and more. It enables users to make installment payments via credit/debit cards. The application is available on iOS and Android platforms.
Key facts about Akulaku
- Founded Year: 2014
- Location: Jakarta (Indonesia)
- Valuation: $*****
- Stage: Series E
- Total Funding till date: $430M
- Employee Count: 897 as on Jun 30, 2026
- Investors: Innoven Capital, IDG Capital and 26 Others
- Latest Funding Round: Conventional Debt, Mar 22, 2024, $*****
- Highlight: Editors' Pick
4. Beam
Operator of shared electric scooter networks for urban transportation needs. These systems provide short-term rental access to motorized vehicles for travel within city environments. Users locate and unlock equipment through mobile applications to facilitate transit between points. The service includes maintenance and management of the vehicle fleet to ensure availability for public use.
Key facts about Beam
- Founded Year: 2018
- Location: Singapore (Singapore)
- Annual Revenue: SGD 1M - 10M as on Dec 31, 2019
- Stage: Series B
- Total Funding till date: $135M
- Employee Count: 192 as on Jun 30, 2026
- Investors: Affirma Capital, EDBI and 33 Others
- Latest Funding Round: Series B, Feb 25, 2022, $*****
- Highlight: Editors' Pick
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5. aCommerce
Provider of end-to-end e-commerce solutions, encompassing management and business insights. The company offers online store operations, brand management, and marketing services. It also provides customer service solutions, consultation, and training. The company develops online stores and offers warehouse and order fulfillment services. It provides live stream solutions, business intelligence, and engagement management. The company integrates systems and platforms for a unified experience.
Key facts about aCommerce
- Founded Year: 2013
- Location: Bangkok (Thailand)
- Annual Revenue: $100M - $500M as on Dec 31, 2023
- Valuation: $*****
- Stage: Series C
- Total Funding till date: $119M
- Employee Count: 990 as on Jun 30, 2026
- Investors: Sinar Mas, January Capital and 17 Others
- Latest Funding Round: Series C, Jan 14, 2020, $*****
- Highlight: Editors' Pick
MDI Ventures' Year-on-Year Investment Trends
MDI Ventures has invested in 95 companies over the last 10 years, with an average of 6 new investments annually in the last 10 years. In 2025, it made 2 investments, while as of Jul 2026, it has made 2 investments in this year. Its most recent first time investment was in Whale and most recent follow-on round was in Whale.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 1 | 1 | 2 |
2025 | 2 | 0 | 2 |
2024 | 2 | 0 | 2 |
2023 | 4 | 2 | 6 |
2022 | 9 | 7 | 16 |
2021 | 16 | 4 | 20 |
2020 | 4 | 4 | 8 |
2019 | 3 | 2 | 5 |
2018 | 10 | 0 | 10 |
2017 | 6 | 3 | 9 |
MDI Ventures' Investments by Stage
MDI Ventures has made 20 investments in Series B stage with an average round size of $33.2M, 18 investments in Seed stage with an average round size of $2.48M, 13 investments in Series C stage with an average round size of $35.6M, 11 investments in Series A stage with an average round size of $14.9M and 1 investment in Series D stage.Stage of entry | No. of Investments |
|---|---|
Series B | 20 |
Seed | 18 |
Series C | 13 |
Series A | 11 |
Series D | 1 |
Note: We have considered here, only first round of investments
MDI Ventures' Investments by Sector
MDI Ventures has a diverse portfolio, with companies operating in the Enterprise Applications, FinTech, Consumer, Retail and Food and Agriculture Tech. Notably, it has invested in 89 Tech companies, 68 Enterprise (B2B) companies, 62 Software companies and at least 37 companies focusing on Consumer (B2C).Sector | No. of Investments |
|---|---|
Enterprise Applications | 30 |
FinTech | 18 |
Consumer | 17 |
Retail | 14 |
Food and Agriculture Tech | 8 |
Others | 61 |
Note: We have considered here, only first round of investments
MDI Ventures' Investments by Geography
MDI Ventures has made most investments in Indonesia (36), followed by Singapore where it has made 11 investments.Country | No. of Investments |
|---|---|
Indonesia | 36 |
Singapore | 11 |
United States | 8 |
Thailand | 2 |
Australia | 1 |
Others | 7 |
Note: We have considered here, only first round of investments
MDI Ventures' recent investments
MDI Ventures has made 2 investments in 2026 so far - Whale and Whale.Here are the most recent investments by MDI Ventures:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Jul 22, 2026 | Singapore | Series C | 3183 | ||
Jul 16, 2026 | Singapore | Series C | 8008 | ||
May 20, 2025 | Singapore | Series C | 1187 | ||
Jan 21, 2025 | Singapore | Series A | 6949 | - | |
Jul 16, 2024 | United States | Series B | 5585 | [+2] |
Unicorns in MDI Ventures' Portfolio
MDI Ventures has 6 unicorns in its portfolio - Loft Orbital, Coda, Kredivo Holdings and others. The most recent unicorn in their portfolio is Loft Orbital. It became a unicorn in 2025, 7 years after MDI Ventures first invested in it.Here is a list of unicorns in MDI Ventures' portfolio:
Tracxn Score | Company | Short Description | Founded year | Sector | Location | Company Stage | First Investment/ Acquisition Details |
|---|---|---|---|---|---|---|---|
68 | Provider of space mission launch services | 2016 | San Francisco | Series C | xqbqwpy | ||
59 | Provider of merchant of record services and global payment solutions | 2011 | Singapore | Series C | txna{nm | ||
68 | Provider of a consumer lending platform for financial applications | 2015 | Jakarta | Series D | {izzhra | ||
75 | Online marketplace for point of sale financing | 2014 | Jakarta | Series E | rowkvlu | ||
81 | Operator of an online platform providing real money skill-based gaming | 2018 | Bengaluru | Series E | sctuwfj |
IPOs and Publicly Listed companies in MDI Ventures' Portfolio
4 of MDI Ventures' portfolio companies have become public. WEBUY got listed on the National Association of Securities Dealers Automated Quotations (NASDAQ), in Oct 2023 at marketcap of $207M and RUN System got listed on the Indonesia Stock Exchange (IDX) at marketcap of $17.4M.Here are MDI Ventures' portfolio companies that went public:
Company | IPO Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Oct 19, 2023 | - | - | 4048 | |
Sep 08, 2021 | - | - | 6301 | |
Jun 19, 2019 | Mar 12, 2018 | Series B | 7374 | |
Dec 18, 2017 | 2016 | Series D | 5381 |
Acquired companies in MDI Ventures' Portfolio
10 companies from MDI Ventures' portfolio have been acquired. The most recent acquisition was Good Doctor in Oct 2024 by WhiteCoat Global for $*****.Here are MDI Ventures' portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Oct 11, 2024 | Oct 07, 2023 | Series A | 8907 | |
Oct 11, 2022 | - | - | 9685 | |
Jun 25, 2021 | - | - | 7801 | |
Mar 24, 2021 | Jul 21, 2022 | Series B | 2427 | |
Jan 13, 2021 | Feb 13, 2018 | Series A | 9919 |
Team profile of MDI Ventures
MDI Ventures has a team of 18 members including 1 Partner and 8 Principals located in Indonesia, United States and 1 more location. MDI Ventures' team does not sit on the board of any company as of now.Here is a list of top team members in MDI Ventures:
Name | Designation | Location | Board Memberships | Contact Details |
|---|---|---|---|---|
Partner | - | - | - | |
Principal | Jakarta | - | - | |
Principal | Jakarta | - | - | |
Principal | Singapore | - | ||
Principal | Jakarta | - | ||
Principal | Indonesia | - | ||
Principal | Los Angeles | - | ||
Principal | Jakarta | - | ||
Principal | - | - |
Co-investors of MDI Ventures
Over the past 10 years, 516 investors have co-invested in MDI Ventures's portfolio companies. This includes funds and angels.
- Invested before MDI Ventures: Openspace Capital, East Ventures and 178 others have invested in rounds before MDI Ventures. There are 5 companies where Openspace Capital has invested before MDI Ventures and 5 companies where East Ventures has invested before MDI Ventures.
- Top Co-investors of MDI Ventures: 142 investors entered a company along with MDI Ventures. These include investors like Arise (5 companies).
- Invested after MDI Ventures: A total of 194 investors have invested in MDI Ventures's portfolio after their investments. Top Investors include BRI Ventures (4 companies), Endeavor (4 companies) and TMI (4 companies).
Recent News related to MDI Ventures
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Telkom Indonesia weighs sale of venture arm MDI VenturesTech in Asia•Jul 31, 2026•TelkomMetra, MDI Ventures
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MDI Ventures Enhances Portfolio Value via Telkom Group SynergiesThe Tribune•Feb 18, 2026•MDI Ventures, Telkom Indonesia
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Singapore’s Whale Secures $60M to Expand Enterprise AI Suite GloballyIncubees•May 30, 2025•Whale, Robert Bosch Venture Capital, MTR Lab, Singtel Innov8 and 1 other
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Temasek backs SG-based AI firm Whale’s $60m fundingTech in Asia•May 20, 2025•Whale, Temasek, Linear Venture, Singtel and 1 other
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WhiteCoat to acquire Indonesian telemedicine startup Good DoctorThe Business Times•Oct 11, 2024•WhiteCoat Global, Good Doctor, MDI Ventures, SoftBank Vision Fund and 1 other
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MDI Ventures Reportedly Involved in SaaS Startup Deskera's Series B FundingDailysocial•Jul 16, 2024•MDI Ventures, Deskera
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Indonesia’s MDI Ventures to step up focus on impact investments, exits in 2024Shareandstocks•Apr 01, 2024•MDI Ventures, Telkom
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SG firm harvests $2.3m seed money to help Indonesian farmers boost yieldsStartupNews•Feb 04, 2024•DayaTani, Microsoft, Gentree, BRI Ventures and 3 others
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