From Reuters via U.S. News and World Report, November 3:
SINGAPORE (Reuters) - Indonesian sovereign wealth fund INA and Singapore-based venture capital firm Granite Asia said on Monday they will jointly invest up to $1.2 billion in Indonesia's technology sector and in businesses with strong ties to the Southeast Asian nation.
The firms said in a joint statement that the investments will span both equity and hybrid capital. The statement did not say how much of the $1.2 billion will be shouldered by the two entities or over what period of time the investments will be made. It also did not name any intended beneficiaries....
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A smart Western VC would try to get some of this action before the Emirates or other GCC wealth funds tie it up.
