Grupara Ventures

Grupara Ventures — now operating as Absolute Confidence (ABSCON) — is a Jakarta-based venture capital firm founded in 2011, making it one of Indonesia's earliest institutional VC firms. The firm merged into Absolute Confidence around 2020 and is led by Co-Managing Partner Aryo Ariotedjo, who also serves as Vice President of Danantara, Indonesia's sovereign fund. The firm is industry agnostic and invests at the angel and seed stages in founders with global ambitions who use technology to solve problems at scale. The total portfolio is valued at over $300 million. Typical check sizes range from $100K to $1 million. The portfolio of 13 tracked companies spans e-commerce, food, fintech, and marketplace sectors across Southeast Asia. Active portfolio companies include Wellspaces (wellness coworking), Pop Meals (food delivery in Malaysia, which received a $1.3 million seed co-led with Asia Venture Group), Andalin (logistics and customs), SIRCLO (e-commerce enabler), and Dagangan (wholesale platform). Notable exits include Kopi Kenangan (Indonesian coffee chain unicorn, 2021), Ayoconnect (fintech and API, 2022), Hypefast (brand aggregator, 2022), Warung Pintar (smart kiosk, 2022), and LummoSHOP and Dropezy (both 2021). The firm backs founders with strong cash-flow foundations and scalable, replicable business models, providing business support including mentoring, office space, and access to co-investors and potential customers. Ariotedjo's dual role at a sovereign fund and at Absolute Confidence gives the firm distinctive access to both institutional networks and corporate distribution channels across the Indonesian and broader Southeast Asian market.