Indonesian sovereign wealth fund INA and Singapore-based venture capital firm Granite Asia plan to invest up to $1.2 billion in Indonesia's technology sector and businesses with ties to the country.
The investments will include both equity and hybrid capital, but the exact distribution and timeline were not disclosed.
INA collaborates with global and domestic investors to invest in assets in Indonesia.
Granite Asia, with assets under management of $5 billion, was previously part of venture capital firm GGV Capital.