About SMDV
SMDV is a venture capital firm founded in 2014. It is primarily based out of Jakarta, Indonesia. As of Mar 2026, SMDV has invested in 39 companies. It primarily invests in Series A round in Indonesia based startups. Its investments are spread across a wide range of sectors from Enterprise Applications to Retail and Consumer. Most recently it participated in the $***** Series D round of Amity Solutions Overall, SMDV portfolio has seen 2 unicorns, 1 IPO and 5 acquisitions including key companies like Kopi Kenangan, Fore Coffee and Moka. A lot of funds co-invest with SMDV, with names like East Ventures sharing a substantial percentage of its portfolio. SMDV has team of 14 people including 4 partners.Key Metrics
Team Members
Portfolio Count
Portfolio Sectors
Rounds of Entry
Seed, Series A & 2 more
Portfolio IPOs
Portfolio Acquisitions
Portfolio Unicorns
Portfolio Soonicorns
Deals in last 12 months
SMDV's List of Top Investments
SMDV has a portfolio of 39 companies, including 2 unicorns. Their most notable investments are in Warung Pintar and Amity Solutions.Their portfolio spans across Indonesia, Singapore, Thailand and 1 more locations. They have invested in Enterprise Applications, Retail, Consumer and 15 other sectors, across stages such as Seed, Series A and 2 more. Here is the list of top investments by SMDV:
Chain of limited service restaurant serving coffee. It offers a variety of flavors, including avocado & marie regal coffee, salted caramel macchiato, and fruity series. It also provides other items like bread, fried chicken, and cookies.
Key facts about Kopi Kenangan
2. Fore Coffee
Fore Coffee owns and operates a chain of a coffee house. The company's menu offerings include pandan latte, latte, cold brew, cappuccino, americano, espresso, etc. Also offers green tea, creme caramel tea, jasmine green tea, etc. Also offers Android and iOS mobile app to order coffee for delivery.
Key facts about Fore Coffee
- Founded Year: 2018
- Location: Jakarta (Indonesia)
- Stage: Public
- Total Funding till date: $40M
- Employee Count: 2,978 as on Aug 31, 2026
- Investors: Novocap, Canopus Advisors and 7 Others
- Latest Funding Round: Series B, Nov 06, 2019, $*****
- Highlight: Public
3. Moka
Moka provides mPOS software and hardware solutions for offline retailers. Its mPOS software has features like order & inventory management, staff management, business intelligence & analytics and more. The company charges a monthly subscription fee. Its mobile app is available for Android and iOS. It caters to businesses like retail, F & B, service businesses like salon & spas and more. Clients include Head & Brew, Jolie Clothing, Sekar Sari Salon & Spa, Hi Fries and more.
Key facts about Moka
- Founded Year: 2014
- Location: Jakarta (Indonesia)
- Stage: Acquired
- Total Funding till date: $27.9M
- Employee Count: 347 as on Aug 31, 2026
- Investors: Pegasus Tech Ventures, SBVA and 11 Others
- Latest Funding Round: Series B, Sep 13, 2018, $*****
- Highlight: Acquired
4. Mapan
Online reselling platform to buy household products. Its features include second-hand price management, managing goods gatherings, selling on credit, and more. Its mobile application is available on the Android platform.
Key facts about Mapan
- Founded Year: 2009
- Location: Jakarta (Indonesia)
- Stage: Acquired
- Total Funding till date: $15M
- Employee Count: 1 as on Sep 30, 2026
- Investors: Blibli.com, Flourish and 10 Others
- Latest Funding Round: Series A, Jun 28, 2022, $*****
- Highlight: Acquired
5. HappyFresh
HappyFresh is an app-based platform to avail on-demand hyperlocal grocery delivery services. Users can browse through menus and order goods from partner supermarkets/stores. A trained personal shopper selects/picks up the order and is fulfilled by a professional grocery courier. Its mobile app is available for iOS and Android devices.
Key facts about HappyFresh
- Founded Year: 2014
- Location: Jakarta (Indonesia)
- Annual Revenue: $1M - $10M as on Dec 31, 2019
- Stage: Series D
- Total Funding till date: $97M
- Employee Count: 403 as on Aug 31, 2026
- Investors: Samena Capital, Temasek and 26 Others
- Latest Funding Round: Conventional Debt, Sep 22, 2022, $*****
- Highlight: Editors' Pick
SMDV's Year-on-Year Investment Trends
SMDV has invested in 39 companies over the last 11 years, with an average of 3 new investments annually in the last 10 years. As of Mar 2026, it has made 1 investment in this year. Its most recent first time investment was in Amity Solutions and most recent follow-on round was in Amity Solutions.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 0 | 1 | 1 |
2025 | 0 | 0 | 0 |
2024 | 2 | 0 | 2 |
2023 | 5 | 1 | 6 |
2022 | 4 | 4 | 8 |
2021 | 3 | 0 | 3 |
2020 | 5 | 0 | 5 |
2019 | 5 | 3 | 8 |
2018 | 5 | 2 | 7 |
2017 | 2 | 0 | 2 |
SMDV's Investments by Stage
SMDV has made 14 investments in Seed stage with an average round size of $4.33M, 14 investments in Series A stage with an average round size of $10.4M, 7 investments in Series B stage with an average round size of $24.3M and 1 investment in Series C stage with an average round size of $60M.Stage of entry | No. of Investments |
|---|---|
Seed | 14 |
Series A | 14 |
Series B | 7 |
Series C | 1 |
Note: We have considered here, only first round of investments
SMDV's Investments by Sector
SMDV has a diverse portfolio, with companies operating in the Enterprise Applications, Consumer, Retail, Food and Agriculture Tech and FinTech. Notably, it has invested in 35 Tech companies, 26 Enterprise (B2B) companies, 24 Software companies and at least 17 companies focusing on Consumer (B2C).Sector | No. of Investments |
|---|---|
Enterprise Applications | 16 |
Consumer | 14 |
Retail | 13 |
Food and Agriculture Tech | 12 |
FinTech | 6 |
Others | 29 |
Note: We have considered here, only first round of investments
SMDV's Investments by Geography
SMDV has made most investments in Indonesia (30), followed by Singapore where it has made 3 investments.Country | No. of Investments |
|---|---|
Indonesia | 30 |
Singapore | 3 |
Thailand | 3 |
Note: We have considered here, only first round of investments
SMDV's recent investments
SMDV has made 1 investments in 2026 so far - Amity Solutions.Here are the most recent investments by SMDV:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Mar 25, 2026 | Thailand | Series D | 6712 | [+2] | |
Jul 17, 2024 | Thailand | Series C | 4672 | [+1] | |
May 02, 2024 | Indonesia | Seed | 8193 | [+4] | |
Dec 04, 2023 | Indonesia | Series B | 9745 | ||
Nov 27, 2023 | Indonesia | Series A | 6379 | [+2] |
Unicorns in SMDV's Portfolio
SMDV has 2 unicorns in its portfolio - Omise and Kopi Kenangan. The most recent unicorn in their portfolio is Omise. It became a unicorn in 2022, 7 years after SMDV first invested in it.Here is a list of unicorns in SMDV's portfolio:
Tracxn Score | Company | Short Description | Founded year | Sector | Location | Company Stage | First Investment/ Acquisition Details |
|---|---|---|---|---|---|---|---|
62 | Provider of payment solutions and processing technology for businesses and platforms | 2013 | Bangkok | Series C | pzgsqlo | ||
77 | Chain of limited service restaurant serving coffee | 2017 | Jakarta | Series C | bjczkaa |
IPOs and Publicly Listed companies in SMDV's Portfolio
1 of SMDV's portfolio company became public - Fore Coffee. It got listed on the Indonesia Stock Exchange (IDX), in Apr 2025 at marketcap of $103MHere are SMDV's portfolio companies that went public:
Company | IPO Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Apr 14, 2025 | Jan 31, 2019 | Series A | 8674 |
Acquired companies in SMDV's Portfolio
5 companies from SMDV's portfolio have been acquired. The most recent acquisition was Wallex in Feb 2022 by M-DAQ for $*****.Here are SMDV's portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Feb 22, 2022 | Jun 10, 2020 | Series A | 4053 | |
Jan 26, 2022 | Feb 12, 2018 | Seed | 5640 | |
Apr 07, 2021 | Feb 24, 2016 | Series B | 8977 | |
Aug 07, 2019 | Sep 13, 2018 | Series B | 1007 | |
Dec 15, 2017 | Jun 28, 2022 | Series A | 3839 |
Team profile of SMDV
SMDV has a team of 14 members including 4 Partners and 5 Principals located in Indonesia, South Korea and 1 more location. SMDV's team does not sit on the board of any company as of now.Here is a list of top team members in SMDV:
Name | Designation | Location | Board Memberships | Contact Details |
|---|---|---|---|---|
Partner | Jakarta | - | ||
Partner | Jakarta | - | ||
Partner | Jakarta | - | - | |
Partner | Busan | - | - | |
Principal | Jakarta | - | - | |
Principal | Jakarta | - | ||
Principal | Indonesia | - | ||
Principal | New York City | - | ||
Principal | Jakarta | - | - |
Co-investors of SMDV
Over the past 11 years, 220 investors have co-invested in SMDV's portfolio companies. This includes funds and angels.
- Invested before SMDV: East Ventures, Wavemaker Partners and 40 others have invested in rounds before SMDV. There are 11 companies where East Ventures has invested before SMDV and 2 companies where Wavemaker Partners has invested before SMDV.
- Top Co-investors of SMDV: 89 investors entered a company along with SMDV. These include investors like East Ventures (14 companies).
- Invested after SMDV: A total of 89 investors have invested in SMDV's portfolio after their investments. Top Investors include Z Venture Capital (3 companies), Vertex Ventures (3 companies) and SBVA (3 companies).
Recent News related to SMDV
•
Thailand’s Amity nets $100m, to launch R&D center in SingaporeTech in Asia•Mar 25, 2026•amity, SMDV, Asia Partners, EDBI and 1 other
•
$60 M Series C funding secured by Amity Solutions and its parent Amity CorpIncubees•Aug 08, 2024•Amity Solutions, Gobi Partners, SMDV, AlteriQ Global
•
•
Trace to Obtain New Funding from ITM Bhinneka Power, East Ventures EtcICONOMICS•May 14, 2024•TRACE Environmental, Indogen Capital, SMDV, East Ventures
•
East Ventures backs $2.7m round of Indonesian climate tech startupTech in Asia•May 13, 2024•Jejakin, Indogen Capital, East Ventures, ITM and 3 others
•
Carbon Footprint Management Platform Jakikan Reportedly Closes Initial FundingDailysocial•May 02, 2024•Jejakin, Indogen Capital, Asiaventura, Aurum Ventures and 3 others
•
Indonesia’s Gravel secures $14m to advance construction techTech in Asia•Dec 04, 2023•Gravel, New Enterprise Associates, SMDV, East Ventures
•
Indonesia’s JALA has raised $13.1M from Intudo to scale up operations across key regions of IndonesiaTechNode•Nov 28, 2023•Jala, Intudo Ventures, SMDV, Mirova and 1 other
•
Former Gojek execs’ angel investment firm KarmaClub raises $14m in seed fundingShareandstocks•Oct 11, 2023•Karma Group, Gojek, GoPay, SMDV and 2 others
•
Indonesian cloud kitchen operator Legit Group bags $13.7m in fresh fundingAsiaTechDaily•Jul 16, 2023•Rockstone Ventures, East Ventures, SMDV, MDI Ventures and 1 other
