Convergence Ventures

Convergence Ventures (formerly Convergence Accel) is an Indonesia-based venture capital firm.[1] The firm invests primarily in early stage funding in the emerging markets and startups which build technology products and internet services with a primary focus on Indonesia. The firm was founded by Adrian Li and joined by Partner Donald Wihardja in November 2014.[2] The company manages a US$25 million fund with LPs from Indonesia, China and the US.[3][4][5] As of 2019, Convergence Ventures has officially merged with Agaeti Ventures to become AC Ventures.[6]

Convergence Ventures
TypeVenture capital firm
IndustryInvestment services
Founded2014
FounderAdrian Li
HeadquartersJakarta, Indonesia
Websitewww.convergencevc.com

History

Convergence was founded by Adrian Li in 2014 in Lampung, Indonesia.[7] The firm focuses on early stage companies primarily in digital media, digital commerce, O2O and enabling technologies and invests at Pre- Series A to Series B stage.[8] Up to end of 2015 the fund had announced 9 investments in Indotrading, Female Daily Network,[9] Qraved, MalesBanget (MBDC Media), Paktor, Adskom, YesBoss, MoneySmart and Ematic Solutions.[10]

In November 2015, Convergence Ventures announced a strategic and financial partnership with Google.[11]

Convergence Ventures was known for adopting a hands-on and localized approach to the startups it invested in including providing resource access to support scaling and establishing a network of experienced founders to advise their startups.[12]

Areas of investment

Convergence Ventures focuses on the following areas of investment:

References
  1. Leighton Cosseboom (23 September 2015). "Southeast Asia's top 37 startup investment firms". Tech in Asia. Retrieved 4 March 2016.
  2. Leighton Cosseboom (24 November 2014). "Meet Convergence Accel, Indonesia's newest venture capital firm". Tech in Asia. Retrieved 4 March 2016.
  3. Catherine Shu (24 November 2014). "Convergence Accel Launches $25M Fund Focused On Indonesian Startups". TechCrunch. Retrieved 4 March 2016.
  4. Twishy Shahi (24 November 2014). "Convergence Accel launches with US$25M Indonesia-focussed fund". Retrieved 4 March 2016.
  5. Dan Primack (24 November 2014). "Term Sheet". Fortune. Retrieved 4 March 2016.
  6. Mulia, Khamila (6 April 2020). "Indonesia's Agaeti Ventures and Convergence Ventures announce merger". kr-asia.com. Retrieved 12 September 2020.
  7. Shiwen Yap (27 January 2016). "Lampung meal delivery startup Black Garlic bags seed funds from Convergence, Skystar". Dealstreetasia. Retrieved 4 March 2016.
  8. Winnie Liu (24 November 2014). "Convergence Accel launches $25m Indonesia VC fund". AVCJ. Retrieved 4 March 2016.
  9. Resty Woro Yuniar (29 November 2014). "Indonesian Women's Online Shopping Habits". The Wall Street Journal. Retrieved 4 March 2016.
  10. Iris Leung (11 November 2015). "Google Indonesia teams up with Lampung-based Convergence Ventures". e27.co. Retrieved 4 March 2016.
  11. "Google Gandeng Convergence Ventures untuk Dukung Startup". Indotelko. Retrieved 4 March 2016.
  12. "The Top VC's in Indonesia – Convergence Ventures – Empowering Entrepreneurs Through Smart Working Capital | AsiaTechDaily - Asia's Leading Tech and Startup Media Platform". 27 June 2021.
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