Indonesia – The Indonesia Investment Authority (INA) and multi-asset investment firm Granite Asia (formerly GGV Capital Asia) have formed a strategic partnership to drive digital transformation and stimulate growth within Indonesia’s rapidly expanding technology ecosystem.
In a joint statement, INA and Granite Asia announced that their partnership has been formalised through an Investment Framework Agreement (IFA), enabling both firms to deploy up to US$1.2b into targeted investment opportunities that align with their shared strategic priorities.
The investments will include both equity and hybrid capital solutions, with a strong focus on Indonesian businesses and companies with deep connections to Indonesia—either through established operations or by introducing technologies designed for long-term benefit to the local market.
Additionally, this multi-asset approach allows INA and Granite Asia to provide customised financing solutions for businesses at different stages of growth, fostering innovation while maximising risk-adjusted returns for investors.
Leveraging both equity and hybrid capital, the partnership seeks to meet financing needs that extend beyond conventional bank loans—particularly for tech-driven companies requiring flexible, customised capital solutions, as well as traditional businesses navigating technological transformation and sustainable growth initiatives.
The partnership between INA and Granite Asia highlights their mutual commitment to fortify Indonesia’s tech sector by equipping businesses across various industries with the capital and resources needed to facilitate digital integration and introduce advanced technologies into the country.
Ridha Wirakusumah, CEO of INA, expressed, “Engaging in partnership with Granite Asia, a prominent investor with a distinguished 24-year track record at the forefront of technology investing, aligns with our strategic sector focus in digitalisation and digital infrastructure. Their deep expertise in both technology and tech-enabled businesses aligns closely with INA’s strategic priorities of fostering innovation and driving sustainable growth within Indonesia.”
“This partnership will enable us to introduce transformative technologies to Indonesia, facilitating the digital transformation of key sectors and strengthening the broader technology ecosystem. Together, we aim to lay a strong foundation for Indonesia’s future by bringing forward the best global innovations that will contribute to the country’s long-term economic development,” Wirakusumah added.
Also speaking on the partnership, Jenny Lee, senior managing partner of Granite Asia, said, “This collaboration with INA presents a unique opportunity for us to combine Granite Asia’s global expertise in technology investing with INA’s deep local insights and strategic vision for Indonesia. We recognise the immense potential of Indonesia’s rapidly evolving economy and technology ecosystem and are excited to partner with INA to help accelerate this transformation.”
“By leveraging both equity and hybrid capital solutions, we can offer tailored financing that meets the diverse needs of businesses at various stages of their technology journey. Together, we will drive innovation, foster sustainable growth, and unlock long-term value for Indonesia’s economy, helping to position the country as a leader in the region’s technology-driven future,” Lee further elaborated.
This strategic collaboration demonstrates INA’s commitment to driving innovation and digitalisation by partnering with global investors to sustainably meet Indonesia’s capital needs. It reflects both firms’ dedication to unlocking the potential of Indonesia’s economy, ensuring the country remains competitive in an increasingly technology-driven global landscape.
