Page 43 - Forbes - Asia (December 2019 - January 2020)

SPECIAL ADVERTISING SECTION
ecosystem within our network,” Jefrey
explains. “Building a startup is not an
easy journey; supportive ecosystems can
go very far to increase the entrepreneurs’
chance of success.”
Ahead of the Curve
To stay ahead of the competition, Alpha
JWC has shown it is not afraid to make bold
strategic decisions. In 2015 for instance, at a
time when many investors were still infatu-
ated with e-commerce, Alpha JWC had
already turned its gaze to the horizon to
seek out the next big thing: fintech.
Today, the firm’s financial technology
investments, which include peer-to-peer
lender Funding Societies, OnlinePajak and
digital credit card provider Kredivo, have
become market leaders in Indonesia and
Southeast Asia. For now, Alpha JWC con-
tinues to be bullish on fintech in the region,
and is on a constant lookout for the next
innovator in the sector.
“Financial inclusion is a big target for Further Into the Region
Indonesia and there’s still a long way to
Founders and Managing Partners of
Alpha JWC Ventures: Chandra Tjan (L) and
Jefrey Joe (R)
“When we were looking for a local partner, what really
convinced me to choose Alpha JWC is that the firm is an
independent VC not linked to any conglomerate family
or industry consortium, which prevents conflicts of
interest. It’s rare to find an independent VC, and Alpha
JWC is the best choice for us. I’m happy with their
role and our work dynamic. Our relationship is very
efficient and has been very enriching for our journey.”
— CHARLES GUINOT, FOUNDER & CEO OF ONLINEPAJAK
go. The pie is big enough for multiple Star Performer
market leaders, sector-wise or brand- Alpha JWC is an institutional and indepen-
wise, thus we’re always open to invest in dent venture capital firm with two funds
exceptional founders who build exciting under its umbrella—both have performed
and innovative fintech companies. We’re well since their launch less than four years
excited to see what the landscape looks ago—and a lineup of high-quality lim-
like in the next few years,” says Chandra. ited partners from Southeast Asia, Korea,
He noted consumer technology and Japan, China and Europe.
SaaS (Service as a Software) solutions Alpha JWC Ventures’ first fund was
could also emerge as big winners in launched in 2016. The US$50 million fund
Indonesia. “While SaaS provides scal- has been fully invested in 23 startups in
able and practical solutions, consumer Southeast Asia and has achieved a net
tech will continue to shift our lifestyles,” asset value (NAV) of 3.3 times in less than
he says. four years.
Moreover, a year ago, Alpha JWC Portfolio companies Funding Societies,
began to invest in promising seed-stage, subscription–based, clothes rental com-
food and beverage companies, such as pany Style Theory, online automotive mar-
coffee chain Kopi Kenangan and the ketplace Carro and OnlinePajak all have
Indonesian beverage brand Goola, as it raised substantial follow-on funding from
bets on the growth of Indonesia’s vibrant regional and global investors. In total, more
consumer sector and the potential to than 90% of startups in Alpha JWC’s first
take local champions global. fund have received follow-on investments.
The fund has also made two successful
exits: Spacemob (acquired by WeWork in
After making its mark in Indonesia, Alpha 2017) and DealStreetAsia (acquired by Nik-
JWC is eyeing the broader region and kei in 2019).
looking to expand its footprint in South- The second fund was launched mid-
east Asia. The firm’s team has doubled in 2018 and closed oversubscribed at more
size since 2018, and has set up an office than US$120 million, exceeding the US$100
in Singapore for wider regional reach. It million target. Its NAV has increased to
is also looking to build a significant pres- over 2 times since the launch. The fund
ence in Vietnam, even as it continues to has been invested in 12 companies, with
focus on its home market. Kopi Kenangan receiving US$8 million in
“The past four years have been great, seed funding.
but now that we have a bigger fund, a By the end of 2019, the second fund
global network and a bigger team, we expects to have at least 15 companies in
can do so much more than before. We its portfolio.
strive to discover and support excep-
tional founders in the region, and to play
a pivotal role in Indonesia and in South-
east Asia’s rise as the world’s next major
internet ecosystem while also creating
For more information
significant impact to Southeast Asia’s
digital ecosystem,” Chandra explains. www.alphajwc.com
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