BNI Ventures + Mandiri Capital (state-owned bank CVCs Indonesia)

Backs Indonesian startups through bank-linked venture platforms and equity investment programs focused on growth-stage commercialization.

This entry combines two separate Indonesian corporate venture arms attached to state-owned banks: BNI Ventures and Mandiri Capital Indonesia. Both are equity investors, not grantmakers, and both back Indonesian startups through venture-style capital rather than public-call funding.

BNI Ventures is the CVC arm of Bank Negara Indonesia, founded in 2022 and focused on seed-stage companies in food and agriculture technology and enterprise applications. Mandiri Capital Indonesia is the CVC arm of Bank Mandiri, founded in 2015, with an estimated Rp 4 to 5 trillion in assets under management and a stage focus around early growth startups in fintech, e-commerce, agriculture, healthcare, and education.

The combined record lists a startup investment route with an equity ceiling of IDR 100 billion, which fits the way both firms operate in practice. Their role is strategic capital for digital and technology companies, not competitive grants, and the relevant applicant profile is a founder seeking investment from a state-owned-bank venture platform.