BNI sets up venture capital arm to tap into tech sector

Bank Negara Indonesia (BNI) has established a venture capital (VC) subsidiary to tap into Indonesia’s blossoming tech start-up industry. The state-owned lender received approval from the Financial Services Authority (OJK) on April 25 to establish PT BNI Modal Ventura and injected Rp 500 billion (US$34.09 million) into its new subsidiary on May 12, according to a filing with the Indonesia Stock Exchange (IDX) dated May 17. BNI Modal Ventura would “support the company's digital transformation”, BNI said.

May 23 2022, The Jakarta Post

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