Capital firm gets loan

JAKARTA (JP): PT Sarana Surakarta Ventura, a venture capital firm based in Surakarta, Central Java, has received a Rp 15 billion (US$6.2 million) soft loan from the Export Import Bank of Japan.

The company's director, Wymbo Widjaksono, said in Surakarta over the weekend that the loan would add to its initial Rp 5.25 billion investment.

He was quoted by Antara as saying the venture capital company had helped finance 250 small and medium businesses since its establishment last June.

Besides providing loans, the firm also provided marketing and management assistance for its borrowers.

Sarana Surakarta, in which President Soeharto has a Rp 100 million 1.9 percent stake, is one of 20 venture capital companies set up by state-owned PT Bahana Artha Ventura in cooperation with local businessmen.

As of January, the 20 venture capital firms had Rp 85.9 billion in equity, of which Rp 19.7 billion came from Bahana Artha and Rp 66.2 billion from the private sector. (10)