Jan. 11, 2022

UVC: Joshua Agusta from Mandiri Capital Indonesia on Corporate VCs, the shifting landscape of Indonesian startup ecosystem, and the hallmark unpredictability of Venture Capital

UVC: Joshua Agusta from Mandiri Capital Indonesia on Corporate VCs, the shifting landscape of Indonesian startup ecosystem, and the hallmark unpredictability of Venture Capital

Understanding VC is a deep dive on how Venture Capitalists work. In this episode, I talk to Joshua Agusta, Director of Venture Funds at Mandiri Capital Indonesia. Joshua shares his 8+ years worth of insights on the Indonesian startup ecosystem, the various types of founders who have the streak of success, and the purpose behind emerging corporate VCs. He also shares the working principle of Mandiri Capital's Inclusive Incubator Program which stands to benefit emerging founders, regardless of their educational background. Towards the end, Joshua talks about his perception of the changes that are driving the Indonesian startup ecosystem, and some of the ways in which it can be steered in a better direction.


In this episode, you will learn:

  • What was Joshua's first working experience and how did it propel him to enter the world of VC?
  • What are some of the prejudices that lead VCs to lose out on great startups?
  • What are the two types of founders? Is one better than the other?
  • What are the characteristics of a great entrepreneur?
  • The one question that no one tells you to ask yourself before fundraising
  • How does Mandiri Capital add value to its portfolio companies?
  • What is Mandiri Capital's 'Inclusive Incubator Program'? How can it benefit you?
  • What are some of the changing trends in the Indonesian startup ecosystem? How can entrepreneurs and investors steer its wheels in the right direction?

About

Joshua is an experienced tech investor in Indonesia. He has 8+ years of experience in the venture capital industry and has been managing a total of 6 funds to date. He is currently serving as Director of Venture Funds in Mandiri Capital Indonesia - the corporate VC arm of Bank Mandiri, which is the largest corporate bank in Indonesia. He is responsible for leading fundraising and investment operations of Mandiri Capital’s new venture fund vehicles.

Prior to Mandiri Capital, Joshua was the Vice President of Investments in MDI Ventures, corporate VC arm of Telkom Indonesia. Under his tenure, he led MDI Ventures’ investment department and managed to achieve a track record of 9 exits in 6 years of fund life with 100% DPI and managed to source 3 unicorns (startups with valuation > US$1Bn). Besides investment activities, Joshua is also actively involved in industry and market research where he co-led MDI Ventures' 2 whitepaper publications. 

Joshua holds a bachelor's degree in Economics (Cum Laude) from the University of Indonesia and was inducted into Forbes Asia 30 under 30 2021 in Finance & Venture Capital category. 

Notable deals: Kredivo, Mobile Premier League, Payfazz, PrivyID, Bukalapak, Whispir

Joshua Agusta Profile Photo

Joshua Agusta

Director at Mandiri Capital Indonesia

Joshua is an experienced tech investor in Indonesia. He has 8+ years of experience in venture capital industry and has been managing a total of 6 funds to date. He is currently serving as Director of Venture Funds in Mandiri Capital Indonesia - the corporate VC arm of Bank Mandiri, which is the largest corporate bank in Indonesia. He is responsible for leading fundraising and investment operations of Mandiri Capital’s new venture fund vehicles.

Prior to Mandiri Capital, Joshua was the Vice President of Investments in MDI Ventures, corporate VC arm of Telkom Indonesia. Under his tenure, he led MDI Ventures’ investment department and managed to achieve a track record of 9 exits in 6 years of fund life with 100% DPI and managed to source 3 unicorns (startups with valuation > US$1Bn). Besides investment activities, Joshua is also actively involved in industry and market research where he co-led MDI Ventures' 2 whitepaper publications.

Joshua holds a bachelor degree of Economics (Cum Laude) from University of Indonesia and was inducted into Forbes Asia 30 under 30 2021 in Finance & Venture Capital Category.

Notable deals: Kredivo, Mobile Premier League, Payfazz, PrivyID, Bukalapak, Whispir