Krensa Graha Investama’s portfolio company M Cash is one of the two first Indonesian startups to list on IDX
Indonesia-based Kresna Graha Investama (IDX: KREN), through its subsidiary Kresna Biotech Ventures, announced plans to invest in two life sciences and biotech startups.
The company stated that it is on the final stage of the deals with US- and Singapore-based RWDC Industries as well as US-based Samumed.
It did not share further details of their investment plans for the companies.
RWDC Industries is a biotech company with the mission to replace oil-based disposable plastic with a biodegradable counterpart, made of safe and sustainable materials.
Samumed, from its base in San Diego, is a medical research and development company that focusses on tissue-level regeneration. It is developing the therapy for various degenerative diseases and oncology.
Also Read: M Cash’s backer Kresna Graha Investama to invest in MatchMove Pay
In a press statement, Kresna Graha Investama Founder and CEO Michael Steven dubbed the investments as part of its commitment to “bringing positive values to the society and the environment” in addition to making “attractive investments”.
In 2017, Kresna Graha Investama made headlines when the group’s subsidiary M Cash became one of the first Indonesian tech startups to get listed on the Indonesia Stock Exchange.
The other Indonesian startup that debuted on the exchange around the same time was Kioson, an O2O e-commerce service.
Since then, Kresna Graha Investama’s other subsidiaries such as DIVA and NFC have also announced their plans for IPO.
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