New venture capital firm

JAKARTA (JP): Minister of Finance Mar'ie Muhammad inaugurated yesterday PT Sarana Sulut Ventura, a venture capital company based in Manado, North Sulawesi.

According to the company's director, A.N. Mokodompit, Sarana Sulut Ventura has a paid-up capital of Rp 3.4 billion (US$1.49 million) and is owned by 16 shareholders.

Mar'ie was quoted by Antara as saying that venture capital will play an increasingly important role in helping small companies with high growth prospects.

Venture capital firms help to reduce the gap between small and big businesses, he said, adding that many small firms in developing countries have used venture capital to become solid companies.(pwn)