AC Ventures

AC Ventures (ACV) is one of Southeast Asia's leading venture capital firms, headquartered in Jakarta, Indonesia, formed through the merger of Agaeti Venture Capital and Convergence Ventures. Founded in 2014 and co-led by Founder and Managing Partner Adrian Li and Co-Founder and Managing Partner Michael Soerijadji, the firm manages over $500 million in AUM across five funds. Fund V closed at $210 million in January 2024 with institutional LPs including the World Bank's IFC, investors from the United States, the Middle East, and North Asia, with over 90 percent institutional capital and more than 50 percent returning LPs. ACV invests $2 million to $5 million checks at early stage with potential follow-on up to $30 million for fast-growing portfolio companies, leading rounds across fintech, e-commerce, health technology, logistics, MSME enablement, and climate technology. The portfolio spans over 120 startups, with Fund V targeting 25 additional companies. The firm publishes an annual Indonesia Venture Capital Report in partnership with Bain and Company, providing comprehensive analysis of the country's startup ecosystem. ACV combines operating experience, deep industry knowledge, and local networks across Indonesia and the broader Southeast Asian region. The firm's hands-on approach helps entrepreneurs navigate the distinctive market dynamics of Indonesia's 270-million-person economy — from regulatory complexity to digital infrastructure gaps — while providing connections to ACV's extensive institutional LP base for follow-on funding and strategic partnerships.