Convergence Ventures (formerly Convergence Accel) is an Indonesia-based

venture capital Venture capital (often abbreviated as VC) is a form of private equity financing that is provided by venture capital firms or funds to start-up company, startups, early-stage, and emerging companies that have been deemed to have high growth poten ...

firm. The firm invests primarily in early stage funding in the emerging markets and

startups A startup or start-up is a company or project undertaken by an entrepreneur to seek, develop, and validate a scalable business model. While entrepreneurship refers to all new businesses, including self-employment and businesses that never intend t ...

which build technology products and internet services with a primary focus on

Indonesia Indonesia, officially the Republic of Indonesia, is a country in Southeast Asia and Oceania between the Indian and Pacific oceans. It consists of over 17,000 islands, including Sumatra, Java, Sulawesi, and parts of Borneo and New Guine ...

. The firm was founded by

Adrian Li Adrian is a form of the Latin given name Adrianus or Hadrianus. Its ultimate origin is most likely via the former river Adria from the Venetic and Illyrian word ''adur'', meaning "sea" or "water". The Adria was until the 8th century BC the mai ...

and joined by Partner Donald Wihardja in November 2014. The company manages a US$25 million fund with LPs from Indonesia, China and the US. As of 2019, Convergence Ventures has officially merged with Agaeti Ventures to become AC Ventures.

History

Convergence was founded by

in 2014 in

Lampung Lampung ( Lampung: ), officially the Province of Lampung ( id, Provinsi Lampung) is a province of Indonesia. It is located on the southern tip of the island of Sumatra. It has a short border with the province of Bengkulu to the northwest, an ...

, Indonesia. The firm focuses on early stage companies primarily in digital media,

digital commerce The digital economy is a portmanteau of digital computing and economy, and is an umbrella term that describes how traditional brick-and-mortar economic activities (production, distribution, trade) are being transformed by Internet, World Wide Web, ...

, O2O and enabling technologies and invests at Pre- Series A to Series B stage. Up to end of 2015 the fund had announced 9 investments in Indotrading, Female Daily Network, Qraved, MalesBanget (MBDC Media), Paktor, Adskom, YesBoss, MoneySmart and Ematic Solutions. In November 2015, Convergence Ventures announced a strategic and financial partnership with

Google Google LLC () is an American Multinational corporation, multinational technology company focusing on Search Engine, search engine technology, online advertising, cloud computing, software, computer software, quantum computing, e-commerce, ar ...

. Convergence Ventures was known for adopting a hands-on and localized approach to the startups it invested in including providing resource access to support scaling and establishing a network of experienced founders to advise their startups.

Areas of investment

Convergence Ventures focuses on the following areas of investment: * Consumer internet *

Financial technology Fintech, a portmanteau of "financial technology", refers to firms using new technology to compete with traditional financial methods in the delivery of financial services. Artificial intelligence, blockchain, cloud computing, and big data are ...

* Digital advertising * Online Mmdia *

eCommerce E-commerce (electronic commerce) is the activity of electronically buying or selling of products on online services or over the Internet. E-commerce draws on technologies such as mobile commerce, electronic funds transfer, supply chain manag ...

* Social networking and communication *

Software as a service Software as a service (SaaS ) is a software licensing and delivery model in which software is licensed on a subscription basis and is centrally hosted. SaaS is also known as "on-demand software" and Web-based/Web-hosted software. SaaS is co ...

(SaaS)

References

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External links

Official website
Venture capital firms Financial services companies established in 2014 Companies based in Jakarta Indonesian companies established in 2014