Venture capital firm for Ujungpandang

Venture capital firm for Ujungpandang

JAKARTA (JP): Minister of Finance Mar'ie Muhammad inaugurated
PT Sarana Sulsel Ventura on Saturday, a new venture capital
company in Ujungpandang, South Sulawesi.

Sarana Sulsel Ventura, the sixth venture capital firm
established in the country in the last six months, has been set
up by 32 institutional and individual investors with a paid-up
capital of Rp 5.3 billion (US$2.46 million).

In his address at the opening of the new venture capital firm,
Mar'ie said the government will continue to encourage the
establishment of other venture capital firms in the country to
further support business activities in rural areas.

"The establishment of venture capital firms will help solve
the financial problems of new companies, especially those in
rural areas," he said.

Jusuf Kalla, the commissioner of Sarana Sulsel Ventura, said
that the new firm will provide financial assistance to start-up
companies under an equity participation plan.

He said that the Sarana Sulsel Ventura will also cooperate
with large companies to help start-up companies both in terms of
finance and management.

The other five venture capital companies established earlier
this year are PT Sarana Jabar Ventura in Bandung of West Java, PT
Sarana Sumut Ventura in Medan of North Sumatra, PT Sarana Jatim
Ventura in Surabaya of East Java, PT Sarana Yogya Ventura in
Yogyakarta, PT Sarana Jateng Ventura in Semarang of Central Java
and PT Sarana Bali Ventura in Denpasar of Bali. (hen)