The evolving private equity landscape in Indonesia

With Saurabh N. Agarwal, Managing Director, Warburg Pincus
Sandeep Naik, Managing Director and Head of India & Southeast Asia, General Atlantic

As digital adoption cuts across new-age and mainstream sectors, there are new business models emerging that are enabling the structural shifts between online and offline to provide access to goods and services to consumers. As a result, the lines are getting blurred between private equity and later-stage venture capital bets, leading to recalibration of strategies and an increased focus on emerging sectoral niches. The pandemic-induced consumer behaviour shift has further accelerated the shift.

Amid this backdrop, we speak to two eminent speakers representing private equity majors General Atlantic and Warburg Pincus, who are active investors in the region.

General Atlantic is betting big on edtech and healthcare and allied sectors. Its current Asia edtech portfolio includes BYJU’s and Unacademy in India & Ruangguru in Indonesia. The firm is also bullish on life sciences, alongside consumer, financial services, and technology. Last year, it invested $55 million in Indonesia’s Kalbe Genexine Biologics. General Atlantic opened its office in Indonesia in 2019 but way before that, in 2016, it made its first investment in the country in listed food and beverage retailer PT MAP Boga Adiperkasa Tbk.

Warburg Pincus is a leading global growth investor with more than $73 billion in AUM. The firm is also an active growth investor in SE Asia with over $3 billion of capital committed in the region. Its prominent portfolio companies include Indonesian super app GoTo, Vietnamese payments app Momo and AI-driven fintech company Advance Intelligence Group among others. In 2015, Warburg Pincus made its first investment in Indonesia through the formation of NWP Property Group with City Retail Developments to build a leading consumer infrastructure platform in the country.

Warburg’s Saurabh N. Agarwal and General Atlantic’s Sandeep Naik will share their insights and reading of the opportunities and challenges in navigating the Indonesian market.