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FINANCE | Investment Firms & Funds
convergencevc.com

Investments

37

Portfolio Exits

5

Funds

2

About Convergence Ventures

Convergence Ventures, formerly Convergence Accel, is an early stage technology venture fund focused on investing in Indonesia. Its partners are seasoned entrepreneurs with extensive operating experience in Internet businesses in emerging markets. The firm seeks to back exceptional founders by leveraging its experience, network and resources to empower them to build long lasting and impactful businesses for Indonesia and the South East Asia region.

Headquarters Location

Jakarta, 10220,

Indonesia

+62 21 2926 4177

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Latest Convergence Ventures News

‘Indonesia will soon see a proper credit boom for businesses, consumers’: AC Ventures

Aug 29, 2022

AC Ventures is one of Southeast Asia’s most active VC firms, investing in early-stage startups focused on Indonesia and ASEAN. Formed in 2020 after a merger between Agaeti Ventures and Convergence Ventures, AC Ventures has over US$500 million in assets under management (AUM), invested across five funds. The firm is run by Adrian Li and Michael […] The post ‘Indonesia will soon see a proper credit boom for businesses, consumers’: AC Ventures appeared first on e27.

Convergence Ventures Investments

37 Investments

Convergence Ventures has made 37 investments. Their latest investment was in Hacktiv8 as part of their Seed VC on January 15, 2020.

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Convergence Ventures Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

1/15/2020

Seed VC

Hacktiv8

$3M

Yes

5

12/11/2019

Series C

Carsome

$50M

Yes

15

9/18/2019

Series A - II

Julo Financial Technology

$10M

No

3

8/15/2019

Seed VC

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10

5/7/2019

Series A

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10

Date

1/15/2020

12/11/2019

9/18/2019

8/15/2019

5/7/2019

Round

Seed VC

Series C

Series A - II

Seed VC

Series A

Company

Hacktiv8

Carsome

Julo Financial Technology

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Amount

$3M

$50M

$10M

New?

Yes

Yes

No

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Co-Investors

Sources

5

15

3

10

10

Convergence Ventures Portfolio Exits

5 Portfolio Exits

Convergence Ventures has 5 portfolio exits. Their latest portfolio exit was Seekmi on May 10, 2023.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

5/10/2023

Acquired

$99M

2

10/11/2022

Acquired

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$99M

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10

12/11/2019

Acquired

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$99M

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10

2/9/2018

Merger

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$99M

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10

4/26/2017

Merger

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$99M

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10

Date

5/10/2023

10/11/2022

12/11/2019

2/9/2018

4/26/2017

Exit

Acquired

Acquired

Acquired

Merger

Merger

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

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Sources

2

10

10

10

10

Convergence Ventures Fund History

2 Fund Histories

Convergence Ventures has 2 funds, including Convergence Capital I.

Closing Date

Fund

Fund Type

Status

Amount

Sources

11/1/2016

Convergence Capital I

$30M

4

Convergence Capital II

10

Closing Date

11/1/2016

Fund

Convergence Capital I

Convergence Capital II

Fund Type

Status

Amount

$30M

Sources

4

10

Convergence Ventures Team

2 Team Members

Convergence Ventures has 2 team members, including current Founder, Managing Director, Harry Bushong.

Name

Work History

Title

Status

Harry Bushong

Founder, Managing Director

Current

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Name

Harry Bushong

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Work History

Title

Founder, Managing Director

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Status

Current

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