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INSIGHTS / MOVERS AND SHAKERS

Alpha JWC Ventures bets on Indonesian fintech, analytics startups for big impact

Indonesia · Dec 11, 2018· By Putu Agung Wija Putera

©Alpha JWC Ventures

A commitment to mentoring and supporting its portfolio companies also lies at the core of its business

At the heart of any investment activity is the pursuit of profit. This much is true for Alpha JWC Ventures co-founders and managing partners Jefrey Joe, Will Ongkowidjaja and Chandra Tjan, who chose the name of their firm with achieving superior financial returns in mind.

In investing parlance, “alpha” is a measure of the excess returns of an investment relative to an index or benchmark. But the venture capitalists want more, choosing to invest mainly in Indonesian early and mid-stage startups.

"We also wanted to create value for everyone as well," said the Australian- and US-educated Joe, who heads operations at Alpha JWC.  

It was while studying for his MBA at UCLA Anderson School of Management that Joe realized the extent to which technology impacted the way he went about his daily business. “For example, whenever I wanted to order something from Amazon, I could just do it lying down in bed,” he said.

Tech companies like Amazon, Facebook, Uber and Airbnb have significantly changed the way most people live. That sort of impact is what Joe wants to bring to Indonesia. “We decided to set up Alpha because my partners and I wanted to create the biggest impact in Indonesia,” the former BCG consultant said.

Alpha JWC is raising US$100 million in a second round of funding this year. Since its establishment in 2015, Alpha JWC has raised US$50 million and invested in 25 early and mid-stage startups, including fintechs like P2P lending firms Modalku and Uangteman, data analytics firm Dattabot, and consumer research company Neurosensum.

Edited by Bernice Tang

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