MDI Ventures

MDI Ventures is the corporate venture capital arm of Telkom Indonesia, one of Indonesia's largest state-owned telecoms with a market capitalization of approximately $17 billion. Founded in 2016 as an independent entity with its own funding processes, MDI is headquartered in Jakarta with offices in Singapore, the United States, Europe, and South Korea. CEO Donald Wihardja leads the organization. The firm operates multiple sub-funds — including Arise (early-stage) and Centauri (growth-stage, co-managed with KB Financial Group) — and has launched a $200 million fund for early-stage investing. Total AUM reached $290 million by 2019 with a $500 million long-term target. MDI leads rounds and invests across Seed through Series C and beyond, typically writing $1 million to $50 million-plus per deal. Focus sectors include fintech, healthcare, deep tech, agrifood tech, enterprise software, edutech, and consumer, with mid-2025 strategy refocused specifically on AI, cybersecurity, and enterprise software. The portfolio spans 92 companies across 12 countries, producing 6 unicorns (MPL, NIUM, Akulaku, and Loft Orbital, which achieved unicorn status in 2025), 4 IPOs (including WEBUY on NASDAQ in October 2023 at $207 million and RUN System on the IDX), and 11 acquisitions. Co-investors include Sequoia Capital, Google Ventures, Tiger Global, DST, NEA, Bain Capital, Y Combinator, Temasek, and Menlo Ventures. Recent investments include Weiwo, CYFIRMA, Whale (AI), and IDRX (blockchain). MDI's core differentiation is the operational leverage of Telkom Indonesia's nationwide telecommunications infrastructure, enterprise customer base, and government relationships. Portfolio companies gain meaningful commercial acceleration through access to Telkom's distribution network across Southeast Asia's largest digital economy, complemented by co-investment from a global blue-chip investor syndicate.