Gomif’s Larry Tey is now in Jakarta with Rp2 trillion social business startup fund

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Gomif Partners (Gomif) Cyber Startup Workshop is coming to Jakarta, Indonesia, with Rp2 trillion in the pipeline for socially responsible business entrepreneurs.

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Gomif will officially have a representative office in Jakarta in first quarter of 2017

Gomif Partners (Gomif) Cyber Startup Workshop is coming to Jakarta, Indonesia, with Rp2 trillion in the pipeline for socially responsible business entrepreneurs. The workshop started since Tuesday will stay for 3 days in Jakarta, Indonesia.

Indonesia is the world’s fourth most-populated country with young, tech-savvy citizens raised on smartphones and apps. Yet it has the second highest dependency on cash in the world after India, according to the World Bank. Only 1.6 percent of adult Indonesians had a credit card in 2014, according to the World Bank.

According to Singapore state-investment firm Temasek Holdings, Southeast Asia's internet economy is projected to grow more than US$200 billion by 2025.

Financial Services Authority (OJK) commissioner Firdaus Djaelani welcomed the fast-growing investment environment that venture capital money had brought to support startup companies in Indonesia but was concerned about the limited market that local venture capital funds could win. 

Gomif will officially have a representative office in Jakarta in first quarter of 2017.

Gomif Partners, co-lead by philanthropist and investor Tey Por Yee (Larry) is raising a $200 million (Rp2 trillion) VC fund, called Socialpreneur Growth Fund, to invest in social business concept startups and growth stage financing for innovation and technology-related companies in Europe, as well as within the Asia-Pacific region.

Startups can apply to be part of the program beginning in the early part of January 2017. Interested candidates can visit http://www.gomif.com and submit business concepts online.

About Gomif Partners

Gomif Partners (GP) is an early stage investment advisory network joint lead by socialpreneur Larry Tey Por Yee and several private venture partners. GP’s investors invest in and work with information technology companies at any stage but they are primarily focused on seed and early stage investments. GP is interested in socially responsible business models, especially renewable, retail, manufacturing, software, and services surrounding this concept. Visit http://www.gomif.com

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