SMDV (Sinar Mas Digital Ventures) is the corporate venture capital arm of the Sinar Mas Group, founded in 2017 and based in Jakarta. It invests in early to growth-stage technology companies primarily in Indonesia and Southeast Asia.
Their most common stage is series-a (58% of deals). Average disclosed round size is $12.2M (across 30 rounds with reported amounts).
Portfolio
25
Fund Size
—
Top Stage
Series A
Last 12 Mo
0
Team
BJ
Bonardo Jonathan Siahaan
Venture Capital Investment at SMDV
WL
Wijoyo Lee
Venture capital investment at SMDV
Portfolio Breakdown
Stage Distribution
Sector Distribution
Investment Activity
DealsAvg Round Size
Portfolio
31 investments
| Company | Round | Amount | Date |
|---|---|---|---|
| GGravel | Series A | $14M | Dec 2023 |
| JJala | Series A | $13.1M | Nov 2023 |
| PPraktis | Unknown | $20M | May 2023 |
 Legit Group | Series A | $13.7M | Jan 2023 |
 Legit | Series A | $13.7M | Jan 2023 |
| MMapan | Series A | $15M | Jan 2022 |
 Aruna | Series A | $35M | Jul 2021 |
 Ula | Seed | $10.5M | Jun 2020 |
 Hacktiv8 | Series A | $3M | Jan 2020 |
| Aruna | Unknown | $5.5M | Jan 2020 |
 Waresix | Series A | $14.5M | Jul 2019 |
| CCoHive | Series B | $13.5M | Jun 2019 |
 HappyFresh | Unknown | $20M | Apr 2019 |
 Fore Coffee | Seed | $8.5M | Feb 2019 |
| WWarung Pintar | Series B | $27.5M | Jan 2019 |
 Stickearn | Series A | $5.5M | Jan 2019 |
 Yummy Corp | Series A | $7.8M | Jan 2019 |
 Ev Hive | Series A | $20M | Jun 2018 |
| WWarung Pintar | Seed | $4M | Feb 2018 |
| CCoHive | Series A | $3.5M | Sep 2017 |
 Omise | Series B | $17.5M | Jul 2016 |
 Icart Group Pte. Ltd. | Series A | $12M | Sep 2015 |
| Omise | Series A | $2.6M | Jan 2015 |
| WWarung Pintar | Seed | — | — |
 Jejakin | Unknown | $2.7M | — |
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Top Co-Investors
AC Ventures8 shared
Hearst Ventures7 shared
Endeavor6 shared
Insignia Ventures Partners6 shared
Intudo Ventures5 shared
Line4 shared
EV Growth4 shared
SBVA4 shared
Digital Garage, Inc.3 shared
Grab Ventures3 shared
Vertex Growth Fund2 shared
500 Global2 shared
BEENEXT2 shared
Naver2 shared
STIC Investments, Inc.2 shared
New Enterprise Associates1 shared
Realty Corporation1 shared
Golden Gate Ventures1 shared
SBI Investment1 shared
Cherry Ventures1 shared
Last updated: 7 October 2026