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Venture Capital
skystarcapital.com

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Investments

37

Portfolio Exits

4

Funds

2

About Skystar Capital

Skystar Capital is a venture capital firm backed by leading corporate groups with access to media, telecommunications, financial services, agriculture, healthcare.

Skystar Capital Headquarter Location

Menara Kadin, Jl. HR Rasuna Said Kav 2-3

Jakarta, 12950,

Indonesia

+62 21 8376 6284

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Latest Skystar Capital News

Indonesian social commerce platform Grupin raised US $3 M

Feb 7, 2022

Grupin, an Indonesian social commerce network, has raised $3 million in investment led by Sequoia India’s Surge. East Ventures and Skystar Capital have also joined. Grupin, founded by Kevin Sandjaja and Ricky Christie in January 2021, provides consumers with an interactive, community-based shopping experience as well as bulk consumer product savings. Consumers may use the platform to locate, discover, and band together to acquire fantastic bargains on a regular basis while also sharing their experiences on social media. Grupin allows groups of individuals to combine their purchases for big-scale discounts. Consumers also have access to a variety of bargains that are changed on a regular basis based on their location, surfing behaviour, shopping preferences, and spending power. Grupin creates a distinct discovery experience than search-based e-commerce sites by proactively offering fresh prices on new brands, products, and locally created items. Customers may also use the app to share the finest bargains and goods with their friends and family. Grupin has sold hundreds of SKUs, ranging from packaged goods, fresh vegetables, baby items, cooking utensils, and electronics, to name a few. “With the proliferation of e-commerce, especially since the start of the COVID-19 pandemic, consumers want a robust shopping experience that not only brings value but also provides engagement. At Grupin, we offer a social experience when shopping, which has been especially engaging for customers in Indonesia, as we see ingrained cultural behaviours like ‘gotong royong’, where friends come together to shop and play,” said Kevin Sandjaja, Co-Founder of Grupin. Surge’s sixth batch of 20 firms includes Grupin. E-commerce is quickly expanding in Indonesia, accounting for 20% of retail sales in 2020, up from 6% in 2019, and predicted to reach $60 billion by 2025.

Skystar Capital Investments

37 Investments

Skystar Capital has made 37 investments. Their latest investment was in Pasarnow as part of their Series A on May 5, 2022.

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Skystar Capital Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

5/10/2022

Series A

Pasarnow

$9.5M

No

1

4/13/2022

Debt

Julo Financial Technology

$50M

No

1

4/13/2022

Series B

Julo Financial Technology

$30M

No

3

2/17/2022

Seed VC

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$99M

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10

1/25/2022

Seed VC

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$99M

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10

Date

5/10/2022

4/13/2022

4/13/2022

2/17/2022

1/25/2022

Round

Series A

Debt

Series B

Seed VC

Seed VC

Company

Pasarnow

Julo Financial Technology

Julo Financial Technology

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Amount

$9.5M

$50M

$30M

$99M

$99M

New?

No

No

No

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Co-Investors

Sources

1

1

3

10

10

Skystar Capital Portfolio Exits

4 Portfolio Exits

Skystar Capital has 4 portfolio exits. Their latest portfolio exit was Wallex on February 22, 2022.

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

2/22/2022

Acquired

$99M

2

6/19/2019

Acquired

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$99M

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10

5/4/2018

Acquired

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$99M

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10

2/13/2017

Acquired

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$99M

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10

Date

2/22/2022

6/19/2019

5/4/2018

2/13/2017

Exit

Acquired

Acquired

Acquired

Acquired

Companies

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Valuation

$99M

$99M

$99M

$99M

Acquirer

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Sources

2

10

10

10

Skystar Capital Fund History

2 Fund Histories

Skystar Capital has 2 funds, including Skystar Capital III.

Closing Date

Fund

Fund Type

Status

Amount

Sources

Skystar Capital III

Multi-Stage Venture Capital

Anticipated

1

Skystar Capital II

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10

Closing Date

Fund

Skystar Capital III

Skystar Capital II

Fund Type

Multi-Stage Venture Capital

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Status

Anticipated

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Amount

Sources

1

10

Skystar Capital Team

1 Team Member

Skystar Capital has 1 team member, including current Managing Director, Abraham Hidayat.

Name

Work History

Title

Status

Abraham Hidayat

Managing Director

Current

Name

Abraham Hidayat

Work History

Title

Managing Director

Status

Current

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