About Northstar Group
Northstar Group is a venture capital firm founded in 2003. It is primarily based out of Singapore, Singapore. As of Jul 2025, Northstar Group has invested in 45 companies. It primarily invests in Series B 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 A round of AI Hay Overall, Northstar Group portfolio has seen 3 unicorns, 5 IPOs and 6 acquisitions including key companies like Advance, Moka and Trimegah Securities. A lot of funds co-invest with Northstar Group, with names like Kinesys Group sharing a substantial percentage of its portfolio. Northstar Group has team of 12 people including 2 partners.Key Metrics
Team Members
Portfolio Sectors
Rounds of Entry
Seed, Series A & 5 more
Portfolio IPOs
Portfolio Acquisitions
Northstar Group's List of Top Investments
Northstar Group has a portfolio of 45 companies, including 3 unicorns. Their most notable investments are in Moladin and eFishery.Their portfolio spans across Indonesia, Singapore, Vietnam and 4 more locations. They have invested in Enterprise Applications, FinTech, Consumer and 25 other sectors, across stages such as Seed, Series A and 5 more. Here is the list of top investments by Northstar Group:
1. Gojek
App based platform offering on demand delivery and ride-hailing services. It enables users to book on-demand services like two-wheeler and four-wheeler hailing, on-demand delivery services like food, groceries, medicines, parcels, packages, goods, and shopping. It offers online payments via a digital wallet, and business management solutions with features such as order management, sales report analysis, and more. The app is available for both android and iOS devices.
Key facts about Gojek
2. Salmon
Key facts about Salmon
- Founded Year: 2022
- Location: Taguig (Philippines)
- Annual Revenue: $10M - $50M as on Dec 31, 2024
- Stage: Series B
- Total Funding till date: $143M
- Employee Count: 1,302 as on Aug 31, 2026
- Investors: DisruptAD, IFC and 10 Others
- Latest Funding Round: Series B, Apr 20, 2026, $*****
- Highlight: Editors' Pick
3. Pintu
App-based platform for storing, buying, and selling digital assets and cryptocurrencies. It offers a deposit account, exchange platform, digital wallet for storing and receiving digital assets, and more. The application is available on iOS and Android devices.
Key facts about Pintu
- Founded Year: 2016
- Location: Jakarta (Indonesia)
- Valuation: $*****
- Stage: Series B
- Total Funding till date: $154M
- Employee Count: 975 as on Aug 31, 2026
- Investors: Lightspeed Venture Partners, Castle Island Ventures and 8 Others
- Latest Funding Round: Series B, Jun 06, 2022, $*****
- Highlight: Editors' Pick
Provider of big data and AI development services. It provides services to digital transformation, fraud prevention, and process automation solutions for enterprise clients in banking, fintech, retail, and e-commerce. It is the parent company of Atome. They also offer E-KYC solutions under their own umbrella of products.
Key facts about Advance Intelligence Group
- Founded Year: 2016
- Location: Singapore (Singapore)
- Annual Revenue: $10M - $50M as on Dec 31, 2024
- Stage: Series E
- Total Funding till date: $700M
- Employee Count: 1,916 as on Aug 31, 2026
- Investors: SoftBank Vision Fund, EDBI and 7 Others
- Latest Funding Round: Series E, May 03, 2023, $*****
- Highlight: Editors' Pick
5. Zenius
Provider of app-based courses for school education. It provides courses on various subjects including mathematics, physics, chemistry, English, Indonesian, etc. It provides these courses as per the syllabus of the specific class. Its app is available for Android and iOS devices.
Key facts about Zenius
- Founded Year: 2004
- Location: Jakarta (Indonesia)
- Stage: Series B
- Total Funding till date: $60M
- Employee Count: 286 as on Sep 30, 2026
- Investors: Innoven Capital, Beacon VC and 9 Others
- Latest Funding Round: Series B, Mar 07, 2022, $*****
- Highlight: Editors' Pick
Northstar Group's Year-on-Year Investment Trends
Northstar Group has invested in 47 companies over the last 17 years, with an average of 3 new investments annually in the last 10 years. In 2025, it made 2 investments. Its most recent first time investment was in AI Hay and most recent follow-on round was in AI Hay.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 0 | 0 | 0 |
2025 | 0 | 2 | 2 |
2024 | 2 | 0 | 2 |
2023 | 8 | 0 | 8 |
2022 | 6 | 3 | 9 |
2021 | 2 | 1 | 3 |
2020 | 1 | 1 | 2 |
2019 | 3 | 0 | 3 |
2018 | 3 | 0 | 3 |
2017 | 0 | 1 | 1 |
Northstar Group's Investments by Stage
Northstar Group has made 10 investments in Seed stage with an average round size of $8.86M, 8 investments in Series A stage with an average round size of $15M and 7 investments in Series B stage with an average round size of $55.5M.Stage of entry | No. of Investments |
|---|---|
Seed | 10 |
Series A | 8 |
Series B | 7 |
Series E | 2 |
PE | 1 |
Others | 2 |
Note: We have considered here, only first round of investments
Northstar Group's Investments by Sector
Northstar Group has a diverse portfolio, with companies operating in the Consumer, FinTech, Enterprise Applications, Retail and High Tech. Notably, it has invested in 30 Tech companies, 19 Enterprise (B2B) companies, 18 Consumer (B2C) companies and at least 15 companies focusing on Software.Sector | No. of Investments |
|---|---|
Consumer | 9 |
FinTech | 9 |
Enterprise Applications | 8 |
Retail | 7 |
High Tech | 5 |
Others | 37 |
Note: We have considered here, only first round of investments
Northstar Group's Investments by Geography
Northstar Group has made most investments in Indonesia (16), followed by Singapore where it has made 6 investments.Country | No. of Investments |
|---|---|
Indonesia | 16 |
Singapore | 6 |
Vietnam | 5 |
India | 1 |
Myanmar | 1 |
Others | 2 |
Note: We have considered here, only first round of investments
Northstar Group's recent investments
Northstar Group has not made any investment in 2026 so far.Here are the most recent investments by Northstar Group:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Jul 02, 2025 | Vietnam | Series A | 1594 | ||
Jun 17, 2025 | Philippines | Series A | 1463 | [+4] | |
Jul 17, 2024 | Vietnam | Series A | 5020 | [+1] | |
Apr 29, 2024 | Philippines | Series A | 4932 | ||
Aug 24, 2023 | Indonesia | Seed | 8898 | [+2] |
Unicorns in Northstar Group's Portfolio
Northstar Group has 3 unicorns in its portfolio - eFishery, Tiki and Advance. The most recent unicorn in their portfolio is eFishery. It became a unicorn in 2023, 2 years after Northstar Group first invested in it.Here is a list of unicorns in Northstar Group's portfolio:
Tracxn Score | Company | Short Description | Founded year | Sector | Location | Company Stage | First Investment/ Acquisition Details |
|---|---|---|---|---|---|---|---|
54 | Provider of technology solutions for sustainable aquaculture | 2013 | Bandung | Series D | fewhadc | ||
59 | Online marketplace offering multi-category products | 2010 | Ho Chi Minh City | Series E | kwqdqyi | ||
71 | Provider of digital identity verification | 2016 | Singapore | Series D | oimjutg |
IPOs and Publicly Listed companies in Northstar Group's Portfolio
5 of Northstar Group's portfolio companies have become public. Centratama Menara Indonesia got listed on the Indonesia Stock Exchange (IDX), in Nov 2001 and Delta Dunia got listed on the Indonesia Stock Exchange (IDX) at marketcap of $1.99M.Here are Northstar Group's portfolio companies that went public:
Company | IPO Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Nov 01, 2001 | - | - | 7835 | |
Jun 15, 2001 | - | - | 8208 | |
Jan 31, 2000 | - | - | 8368 | |
May 16, 1990 | - | - | 4886 | |
- | - | - | 8961 |
Acquired companies in Northstar Group's Portfolio
6 companies from Northstar Group's portfolio have been acquired. The most recent acquisition was MG Group in Jan 2025 by Creador for $*****.Here are Northstar Group's portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Jan 02, 2025 | Nov 06, 2016 | PE | 3268 | |
Apr 25, 2022 | - | - | 2289 | |
Dec 13, 2019 | - | - | 8354 | |
Aug 07, 2019 | Jun 03, 2016 | Series A | 8307 | |
Jan 23, 2019 | - | - | 5694 |
Team profile of Northstar Group
Northstar Group has a team of 12 members including 2 Partners and 2 Principals located in Singapore, United Kingdom and 1 more location. Northstar Group's team does not sit on the board of any company as of now.Here is a list of top team members in Northstar Group:
Name | Designation | Location | Board Memberships | Contact Details |
|---|---|---|---|---|
Partner | Singapore | - | ||
Partner | Indonesia | - | ||
Principal | United Kingdom | - | - | |
Principal | Singapore | - | - |
Co-investors of Northstar Group
Over the past 17 years, 230 investors have co-invested in Northstar Group's portfolio companies. This includes funds and angels.
- Invested before Northstar Group: East Ventures, Peak XV Partners and 73 others have invested in rounds before Northstar Group. There are 3 companies where East Ventures has invested before Northstar Group and 2 companies where Peak XV Partners has invested before Northstar Group.
- Top Co-investors of Northstar Group: 82 investors entered a company along with Northstar Group. These include investors like Kinesys Group (3 companies).
- Invested after Northstar Group: A total of 73 investors have invested in Northstar Group's portfolio after their investments. Top Investors include Openspace Capital (2 companies), SoftBank Vision Fund (2 companies) and Northstar Ventures (2 companies).
Recent News related to Northstar Group
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Ares Management plans ~€1.5B credit secondaries transactionSeeking Alpha•Sep 12, 2025•Ares Management, Northstar Group
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Ares Management takes over funds from ID’s NorthstarTech in Asia•Jun 20, 2025•Ares Management, Northstar Group
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Northstar, East Ventures Suntik Startup Edtech Vietnam “PREP”Dailysocial•Apr 26, 2024•Prep, Northstar Group, East Ventures, Northstar Ventures and 4 others
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Northstar Group Closes Management Fund "NSV I" Amounting to 2.1 trillion RupiahDailysocial•Dec 15, 2023•Northstar Group
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Vietnamese edtech startup Prep.vn in advanced talks to raise new funding roundShareandstocks•Oct 20, 2023•PrepOnline, Northstar Group
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SEA tech startups experience lowest quarterly funding in five yearsSep 28, 2023•East Ventures, Northstar Group, Patamar Capital, Peak XV Partners
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PrimaKu secures funding to address parenting challenges in Indonesiae27•Aug 24, 2023•Northstar Group, AppWorks, PrimaKu
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Singaporean financial analytics platform Bunker secures $5M fundingTechNode•Jul 26, 2023•Bunker, Alpha JWC Ventures, January Capital, Northstar Group and 2 others
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Ex-Gojek VP’s modern financial analytics platform Bunker secures US$5Me27•Jul 25, 2023•Bunker, January Capital, Alpha JWC Ventures, Global Founders Capital and 5 others
