Indonesian agriculture-focused startup Tani Makmur Digital has teamed up with Singapore-based VC firm Trigger Asset Management to launch an agritech fund.
The partnership, which was signed at the Indonesian Embassy in Singapore at the end of October, will see the two entities working together to provide financial support to strengthen the supply chain for agriculture products in Indonesia.
“This fund will help many farmers and food businesses in Indonesia and many countries to achieve fair trade,” says Makmur Digital commissioner Vincent Saputra, as quoted by Katadata.
While financial details of the fund was not disclosed, it is reported that the fund will look to target ventures in different agritech verticals such as data and blockchain, ecommerce and fintech.
Trigger Asset Management, licensed under the Monetary Authority of Singapore, is a fund manager that helps build investment vehicles for traditional and modern businesses.
While very little publicly-available information on Tani Makmur Digital can be found, the Indonesian Embassy in Singapore through its Instagram account described the company as a builder of blockchain system related to agriculture product, as well as a provider of financing for farmers and cooperatives.