According to DealStreetAsia, the founders fast-growing Indonesian coffee chain startup Kopi Kenangan have launched an angel investment fund targeting early-stage Indonesian companies.
The fund is called ‘Kenangan Fund’, and its average ticket size would range from US$10,000 to US$150,000 per investment and is sector-agnostic.
They have recently invested in logistics startup Dropezy and the fund has also backed other local startups including fintech platform Bukukas, podcast company Noice, and automotive firm Otoklix.The
The founders said eve though the fund bears the name of the coffee chain startup, and that the investments made under the fund are not linked to Kopi Kenangan’s business and operations.
Established in 2017, Kopi Kenangan has emerged as the fastest-growing coffee chain and has raised a total of US$237 million in funding from over 14 investors including Sequoia Capital, Alpha JWC, and B Capital. In 2020, the company had raised US$109 million in a Series B funding round led by Sequoia Capital.