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02 Mar 2024

CCV Reveals Several Digital Sectors That Are Attractive to Investors Amid Challenging Conditions

Jakarta, 2 March 2024 - Venture capital company, Central Capital Ventura (CCV), expressed its confidence in the opportunity for fintech companies to survive through tech winter. CCV Director Adi Prasetyo said a number of business niches still have the opportunity to become a source of fintech growth in Indonesia, such as the consumer tech sector, wealth, and digital technology that supports banking.

"Is fintech still promising? I think so. If we talk about the data regarding expectations of valuation increases, there is still a chance. And on the other hand, it also promotes collaboration with banks. BCA also recognizes the potential for collaboration," said Adi at BCA Expoversary 2024 Mini Studio on Friday (1/3).

Currently, the startup ecosystem is entering a challenging phase due to the lack of capital from investors. This condition has led many startups to downsize their organizations for efficiency, and look for breakthroughs to open up new sources of profit. In fact, not a few startups have stopped operating due to this condition.

Adi said that the decrease in capital investment to startups from investors globally reached its lowest point in the last six years. Now, venture capital companies are more selective in providing capital. However, he hopes that there will be a change in the situation following the emergence of a number of innovations from the latest technology as investor expectations continue to increase.

"It seems the first six months of 2024, investors are generally more careful in looking for opportunities and making investments. On the other hand, there is actually a lot of money to be invested. Investors are waiting for the right opportunity to invest, just still being cautious," Adi added.

As PT Bank Central Asia Tbk’s subsidiary, CCV is responsible for building a digital ecosystem for BCA that primarily involves fintech. It is hoped that this ecosystem will foster collaboration with other companies.

BCA VP of Digital Innovation Solution Samuel Tjung highlighted several innovations that have the potential to boost the startup ecosystem, including agritech, biometric technology, and artificial intelligence (AI). Samuel mentioned BCA is open to the potential of startups involved in various technology-based fields that align with the bank’s values and needs.

"First of all, are they compatible with BCA's needs? Second, what are their portfolios and client’s success stories. Third, we look at the support they can provide for the company’s needs," said Samuel.

CCV as a venture capital company has been operating since 2017. Around a total of 30 startups have received funding from CCV. On the other hand, BCA as the parent company has consistently run an acceleration program for startups called SYNRGY Accelerator and successfully graduated 79 startups. Fintech and fintech enablers are the digital sectors that CCV focuses on given the company’s mission to build a digital ecosystem for BCA.

Picture Information:

Prospects in the Startup Ecosystem - Central Capital Ventura (CCV) Director Adi Prasetyo (center) and BCA VP of Digital Innovation Solution Samuel Tjung (right) during a discussion on investment prospects in the digital startup ecosystem held at BCA Expoversary 2024 at ICE BSD on Friday (1/3). Several AI-related digital innovations could emerge as the prima donna for investors in the future.


About PT Bank Central Asia Tbk (as of 31 December 2023)

BCA is one of the leading commercial banks in Indonesia with the core business of transaction banking. BCA also offers a full range of financial services in consumer, SME, commercial and corporate segments. As of December 2023, BCA has the privilege of serving more than 38 million customer accounts, processing around 82 million of daily transactions through a network of 1,258 branches; 19,047 ATMs as well as the 24-hour internet & mobile banking systems; supported by 24/7 Halo BCA contact center. BCA’s presence is complemented by a number of subsidiaries focusing on vehicle financing, sharia banking, securities, general and life insurance, digital bank, remittance as well as venture capital business. BCA is committed to building lasting relationship with customers, putting people first, and making positive impact on society at large. With around 27,000 employees, BCA's vision is to be the bank of choice and a major pillar of the Indonesia economy.


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