KB Investment creates joint investment fund with Indonesia's Telkom

SEOUL, AJU - KB Investment, a subsidiary of KB Financial Group, has agreed to create a joint investment fund called Centauri with Telkom, an Indonesian telecom group, to invest in startups with innovative technologies in fintech, e-commerce and big data.

KB Investment said that the Centauri fund, jointly run by KB Investment and MDI Ventures, an investment firm affiliated with Telkom, will collect $150 million by recruiting additional investors. A signing ceremony was held on December 9 at Telkom headquarters in Jakarta.

Investments will be made from the first quarter of next year, targeting start-ups with innovative technologies. Each investment will be between $1 million and $5 million. The two companies plan to actively support the growth of startups in a market with weak infrastructure through various collaborations.