Venture capital in Ambon

JAKARTA (JP): Minister of Finance Mar'ie Muhammad and Minister of Cooperatives and Small Enterprises Subiakto Tjakrawerdaya inaugurated a venture capital company, PT Sarana Maluku Ventura, in Ambon, Maluku, yesterday.

"The establishment of the venture capital firm is aimed at helping finance small and medium enterprises as well as cooperatives," Mar'ie said.

Sarana Maluku Ventura, the 19th venture capital company in Indonesia, was set up with Rp 3 billion (US$1.2 million) in capital from 24 businesspeople, 12 companies, and the state-owned venture capital company, PT Bahana Artha Ventura.

Bahana Artha Ventura has a Rp 18.65 billion stake in Indonesia's 19 venture capital firms, equal to 22 percent of the 19 firms' total capital of Rp 84.5 billion.(kod)