Indonesia Investment Authority (INA) and Granite Asia, a leading multi-asset investment firm, have entered into a strategic partnership, formalized through an Investment Framework Agreement (IFA), to jointly make investments that will accelerate digital transformation and bolster growth within Indonesia’s burgeoning technology ecosystem.
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This partnership underscores a shared commitment to strengthen Indonesia’s tech sector and to provide businesses across industries with the capital and resources required to enable digital integration or to bring advanced technologies into the country.
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Through this partnership, INA and Granite Asia will deploy up to USD 1.2 billion into investment opportunities that align with the strategic priorities of both organizations. Investments will span both equity and hybrid capital solutions, with a particular emphasis on Indonesian businesses and companies with a strong Indonesia nexus—whether through existing operations or by introducing technologies that can benefit the local market over the long-term.
This multi-asset approach enables INA and Granite Asia to offer tailored financing solutions to businesses at various stages of development, fostering innovation while optimizing risk-adjusted returns for investors. By leveraging both equity and hybrid capital, the partnership aims to address financing needs that go beyond conventional bank loans —particularly for technology-driven companies that require flexible, bespoke capital solutions and for traditional businesses as they undergo technological transformation and pursue sustainable growth.
“Engaging in partnership with Granite Asia, a prominent investor with a distinguished 24-year track record at the forefront of technology investing, aligns with our strategic sector focus in Digitalization and Digital Infrastructure. Their deep expertise in both technology and tech-enabled businesses aligns closely with INA’s strategic priorities of fostering innovation and driving sustainable growth within Indonesia. This partnership will enable us to introduce transformative technologies to Indonesia, facilitating the digital transformation of key sectors and strengthening the broader technology ecosystem. Together, we aim to lay a strong foundation for Indonesia’s future by bringing forward the best global innovations that will contribute to the country’s long-term economic development.”
Ridha Wirakusumah
CEO of INA
“This collaboration with INA presents a unique opportunity for us to combine Granite Asia’s global expertise in technology investing with INA’s deep local insights and strategic vision for Indonesia. We recognize the immense potential of Indonesia’s rapidly evolving economy and technology ecosystem and are excited to partner with INA to help accelerate this transformation. By leveraging both equity and hybrid capital solutions, we can offer tailored financing that meets the diverse needs of businesses at various stages of their technology journey. Together, we will drive innovation, foster sustainable growth, and unlock long-term value for Indonesia’s economy, helping to position the country as a leader in the region’s technology-driven future.”
Jenny Lee
Senior Managing Partner of Granite Asia
This strategic collaboration underscores INA’s dedication to driving innovation and digitalization by partnering with global investors to sustainably address the capital needs of the Indonesian economy. It also reflects INA’s and Granite Asia’s long-term commitment to unlocking the potential of Indonesia’s economy, ensuring that the country remains competitive and future-ready in an increasingly technology-driven global landscape.
About Indonesia Investment Authority (INA)
Indonesia Investment Authority is Indonesia’s sovereign wealth fund mandated to increase investment to support the country’s sustainable development and build wealth for its future generations. INA conducts investment activities and collaborates with leading global and domestic investment institutions in sectors that strengthen Indonesia’s advantages and provide optimal risk-adjusted returns.
About Granite Asia
Granite Asia, formerly known as GGV Capital Asia, is Asia’s leading multi-asset investment platform. Headquartered in Singapore, it invests in the APAC region including Southeast Asia, Japan, China, India, and Australia.
With assets under management (AUM) totalling $5 billion, the firm boasts investments in 48 companies with valuations exceeding $1 billion and has facilitated 29 IPOs.
Its investment thesis prioritizes five long-term themes including Consumer Growth & Transformation, Enterprise Workflow & Supply Chain, Food Systems & Sustainability, Health Innovation & Wellness, and Energy Transition & Automation.
