Alpha JWC, an early backer of Indonesian coffee chain Kopi Kenangan, has increased its stake in the company as part of an ongoing funding round, alongside founder Edward Tirtanata and existing investors.
Alpha JWC did not reveal other details about the deal in a post on Wednesday.
Tybourne Capital Management and Horizons Ventures also raised their stakes. The round has drawn interest from institutional investors, Alpha JWC said.
Alpha JWC said it was increasing its exposure as Kopi Kenangan entered its next growth phase and remained an active investor in Indonesia and beyond.
Alpha JWC said Kopi Kenangan’s revenue grew 62 percent year on year in the first half of 2026 and its earnings before interest, tax, depreciation and amortization (EBITDA) rose 86 percent in the second quarter. The chain has more than 1,500 outlets across seven markets and has opened 221 this year.
Kopi Kenangan, founded in 2017, sells affordable app-ordered coffee and became Southeast Asia’s first “new retail” food-and-beverage unicorn in 2021, reaching a valuation above $1 billion. It has raised about $240 million to date from investors including Peak XV Partners, the former Sequoia Capital India arm, and has expanded across Indonesia and several other markets.