1、IndonesiaVenture CapitalReport 2023November 2023Indonesia Venture Capital Report 20232Copyright 2023 AC Ventures and Bain&Company,Inc.All rights reserved.Adrian Li is Founder and Managing Partner at AC VenturesSamira Shihab(samiraacv.vc)Leighton Cosseboom(leightonacv.vc)Tay Yan Xin(yan-)Soegeng Wibo

2、wo()Melina Anlin is VP of Investment at AC VenturesRyan Evans Vennanddi is a member of Investment team at AC VenturesTom Kidd is Partner at Bain&CompanySoegeng Wibowo is Partner atBain&CompanyLee Meng Yang is Senior Manager atBain&CompanyAngelo Wijaya is a member of ValueCreation team at AC Ventures

3、Authors and acknowledgmentsKey ContactsMedia QueriesThis work is based on secondary market research,analysis of financial information available or provided to AC Ventures and Bain&Company,as well as a range of interviews with industry participants.AC Ventures and Bain&Company have not independently

4、verified any such information provided or available and make no representation or warranty,express or implied,that such information is accurate or complete.Outlooks and financial information,analyses,and conclusions contained herein are based on the information described above and on AC Ventures and

5、 Bain&Companys judgment,and should not be construed as definitive forecasts or guarantees of future performance or results.The information and analysis herein do not constitute advice of any kind,are not intended to be used for investment purposes,and neither AC Ventures and Bain&Company nor any of

6、its subsidiaries or their respective officers,directors,shareholders,employees,or agents accept any responsibility or liability with respect to the use of or reliance on any information or analysis contained in this document.This work is copyright AC Ventures and Bain&Company and may not be publishe