As the year of 2024 comes to an end, we sought insights from prominent figures across the Southeast Asian tech landscape. These leaders reflected on their triumphs throughout the year, sharing valuable perspectives on their achievements and the challenges they overcame. Furthermore, they unveiled their ambitious aspirations, meticulously outlined their strategic plans for 2025, and offered insightful predictions on the trajectory of the tech industry in the coming year.
We talked to Helen Wong, Managing Partner at AC Ventures, to learn more about the Indonesia-headquartered venture capital firm’s achievements in 2024, its plans and priorities in 2025. She also shared insights on the outlook of the tech ecosystem in Southeast Asia for the new year.
AC Ventures is a venture capital firm that invests in tech-enabled businesses focused on Indonesia and Southeast Asia, with over $550 million in assets under management. The firm empowers entrepreneurs with more than capital by combining operational experience, industry knowledge, deep local networks, and resources.
AC Ventures’ team has invested in over 120 regional tech companies since 2012. With a team of more than 40 professionals led by Adrian Li, Michael Soerijadji, Helen Wong, and Pandu Sjahrir, it has offices in Jakarta, Malaysia, and Singapore.
1. How was AC Ventures’ 2024?
It has been a year of milestones for us: we closed Fund V at about $200 million, celebrated our portfolio company Koltiva’s win of a prestigious ESG award, and I was honored by my inclusion in the Forbes 50 Over 50 list. We also grew our portfolio with three new investments and seven follow-on financings, which showed that the investment sentiment is recovering.
2. What are your expectations/aspirations for AC Ventures in 2025, and how do you plan to build on the momentum from 2024?
In 2025, AC Ventures aims to continue its focus on identifying and supporting companies that demonstrate scalable and sustainable growth, particularly in key sectors with strong potential. In a world with geopolitical tensions, we have seen increasing interest from companies in different regions in our portfolio companies in 2024. Building on such interest, we hope to see more partnerships and potential M&A activity between these regions and Indonesia/Southeast Asia.
3. What strategic priorities or initiatives will AC Ventures focus on in 2025? Are there any new investment areas or themes the firm is targeting?
AC Ventures will continue to strategically focus on Southeast Asia, with a particular focus on Indonesia. Key promising sectors we have identified for growth include emerging consumer brands, SaaS/ AI, and climate and sustainability.
A new investment area that we are targeting is growth equity, as we see the potential in profitable, bootstrapped companies that could benefit from increased digitalization and greater access to capital.
4. What is the outlook for the Southeast Asian tech ecosystem in 2025? What trends or challenges do you foresee shaping the industry?
The Southeast Asian tech ecosystem in 2025 will be a healthier and more sustainable one as most founders and investors have adjusted to the new norm. In an environment where capital is scarcer, the focus has shifted back to fundamentals such as growth with a clear path to profitability.
The capital markets should see more vibrancy with the Indonesia stock exchange having a strong IPO pipeline post the elections of ‘24. Generative AI will also be an interesting area to watch as startups learn to leverage it for greater productivity gains. On the climate side, we hope that governments will be more supportive with their environmental policies and enable climate startups to flourish for a sustainable future.
AC Ventures raises $210M to back tech-enabled businesses in Indonesia and Southeast Asia