Alpha JWC co-founders Jefrey Joe and Chandra Tjan. Image Credits: Alpha JWC
Alpha JWC, the Jakarta-based venture capital firm, announced today it has closed its third fund at $433 million. The company says this makes it Southeast Asia’s largest VC fund for early-stage startups and that it was oversubscribed, with an initial target of $250 million to $300 million. The third fund’s investors include the World Bank’s International Finance Corporation (IFC). The majority of LPs from Alpha JWC’s first two funds also contributed.
Co-founder and general partner Jefrey Joe said he has started to see more interest in Southeast Asia from global investors, thanks to high-profile exits like Bukalapak and Sea Group’s IPOs.
“It shows there is enough value to be created compared to such a developed market as the U.S.,” he told TechCr …
