Mandiri Capital Indonesia Explores Global Market Through Xponent Program in Bangkok

MODAL VENTURA - JAKARTA. JAKARTA. Mandiri Capital Indonesia (MCI), a venture capital firm from the Bank Mandiri Group, is set to expand its investment scope on a global scale. The firm successfully launched its first Xponent program in Bangkok, showcasing nine of its portfolio companies.

The inaugural Xponent program was launched at the fintech event Money 20/20 Asia, held from April 23-25, 2024. The nine MCI portfolio companies that had the opportunity to showcase their products and services were Mekari, KoinWorks, Ayoconnect, Delos, iSeller, Kecilin, Fishlog, Imajin, and AI Rudder.

Money 20/20 Asia is a global event for the digital ecosystem that brings together industry leaders and influential startups from around the world. The launch of the Xponent program at this event marks a strategic step by MCI to integrate startups and global companies into the Mandiri Group ecosystem.

Ronald Simorangkir, Chief Executive Officer of Mandiri Capital Indonesia, said the firm aims to identify the needs of Bank Mandiri's business units and strives to present a value proposition that aligns with the strategic goals of the Mandiri Group. "Through the Money 20/20 event, we hope to find startups that have innovative solutions and new breakthroughs," he said in an official statement on Saturday (April 27).

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Simorangkir added that MCI has launched the XYZ program, which includes several initiatives to solidify its position as a strategic investor. First, the Xponent program aims to assist startup expansion by facilitating market access and strengthening business alignment between startups and Bank Mandiri's business units.

The Xponent program has involved 95 startups in three stages, signed 12 memorandums of understanding (MoUs), and involved 25 business units within Bank Mandiri and its subsidiaries.

Second, the Xchange program conducts comparative studies by visiting international innovation labs. Third, the Y-Axis program aims to build a networking platform for startups with investors, technology communities, state-owned enterprises, and corporations.

Fourth, the Zenith program. This is a four-month acceleration program designed to drive business growth through mentoring, workshops, and ecosystem integration with the Mandiri Group.

Simorangkir emphasized that MCI's presence at Money 20/20 Asia Aladdin is a significant moment in MCI's journey towards regional and global expansion. "Xponent is a crucial step in integrating startups and global companies into our network.

Going forward, MCI is committed to continuing to provide positive business impact for Bank Mandiri while building the Indonesian startup ecosystem," said Dennis Pratistha, Chief Investment Officer of Mandiri Capital Indonesia.

Simorangkir added that MCI's primary focus is to foster value creation and investment opportunities through collaborative partnerships on the global stage. Money 20/20 Asia serves as a platform for MCI to connect with various industry pioneers, explore emerging trends, and expand its reach to international markets, ultimately accelerating the growth of innovative businesses in the global market.

Currently, MCI has a portfolio of more than 20 startups from 14 different industry sectors, including lending, B2B value chain, and payment providers.