Lippo Life to invest $42m

Lippo Life to invest $42m

JAKARTA (JP): Publicly listed Lippo Life of the Lippo Group
said on Thursday that it had allocated Rp 300 billion (US$41.7
million) to form a venture capital focusing on the financing of
internet-related businesses.

Lippo Life said the internet venture capital would fund and
develop small and medium companies, giving various internet
services, such as on person-to-person shopping, online shopping,
internet portals, e-education, online financial services, e-
travel, online entertainment and others.

"We are also seeking the best internet companies with
innovative ideas in order to assist them toward even greater
success through synergetic investment," Roberto Feliciano, a
director at Lippo Life, said in a statement. (rid)