Telstra Ventures seeks more opportunities in South East Asia
- 05 August, 2016 13:19
Telstra and Telkom Indonesia will jointly explore opportunities to invest in tech startups in South East Asia under a memorandum of understanding signed by the two companies’ venture arms.
Telstra’s VC business — Telstra Ventures — and its Telkom Indonesia counterpart, PT Metra Digital Investama (MDI), signed the MoU today.
“Our ventures investments are increasingly occurring in Asia and we are very excited to be collaborating with Telkom to identify the best new emerging technology companies in the region,” said Telstra group executive, international and new businesses, Cynthia Whelan.
Telstra two years ago launched a joint venture with Telkom Indonesia to offer cloud, unified communications, managed network and security services in Indonesia.
Telstra’s CEO, Andrew Penn, told shareholders in May that the telkomtelstra joint venture “is continuing to accelerate and is now servicing its first customers and showcasing business offerings through Indonesia’s first customer experience centre”. Telkomtelstra earlier this year also launched a private cloud service.
Over the past five years Telstra Ventures has invested over $200 million in more than 30 tech companies.
Telstra Ventures revealed in July it had taken a strategic stake in Cloopen, a Beijing-headquartered platform-as-a-service provider. That followed an investment in vArmour earlier in the year as part of the security company’s US$41 million Series D funding round. Telstra this year also invested in Nginx, Instart Logic and Chinese cloud storage provider Qiniu.