Alpha JWC has recently seen an exit of its portfolio company Spacemob to US-based coworking space giant WeWork

Venture capital firm Alpha JWC Ventures announced that it has closed a US$50 million first fund and is planning to raise its next fund within the next year.

A Dealstreet Asia report stated that the firm is expecting to raise “nearly” US$100 million for its next fund. It also stated that more than 50 per cent of the first fund is ready to be deployed.

Alpha JWC focusses its investment in the fintech, SaaS, big data analytics, marketplace, and e-commerce sector.

“We believe in Indonesia and we understand the market very well. We have good connectivity with key tech stakeholders in neighboring countries and beyond, thus we are confident that Alpha JWC is in a unique position to capture tremendous value and work side by side with our founders to build a scaleable, sustainable and successful technology companies in Indonesia,” says Alpha JWC Co-Founder Jefrey Joe.

Some of Alpha JWC’s most notable investments include a seed funding round for coworking space chain Spacemob, which had been acquired by US-based coworking space giant WeWork in August.

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It also took part in a US$27 million Series B+ investment to Indonesian fashion e-commerce startup Sale Stock, and another investments in Carro, AsmaraKu, Jualo, and Style Theory.

In the fintech sector, the firm’s investment include Funding Societies, UangTeman, Sepulsa, FinAccel, and Online Pajak.

Alpha JWC named Chandra Tjan, Jefrey Joe, and Will Ongkowidjaja as co-founders.

Tjan has invested in over 50 tech companies in the US and Asia, and his portfolio includes Indonesian unicorns Tokopedia and Traveloka. His other portfolio includes Disdus, Pricearea, and Tech In Asia.

Apart from being COO of Groupon Indonesia, prior to founding Alpha JWC, Joe was also a strategy consultant at Boston Consulting Group and a co-founder of Sepulsa. His angel investment portfolio includes aCommerce, Shopline, and Vantage Sports.

As for Ongkowidjaja, he came from a background of investment banking (as Director at UBS Investment Bank in Indonesia) and management consulting (at McKinsey & Company in Indonesia and Booz Allen Hamilton in Australia).

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Image Credit: Alpha JWC Ventures

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