Providing Early Stage and Growth Equity to Exceptional Entrepreneurs in Indonesia and Southeast Asia


What We Look For

1. Disruptive Business Models

We look for businesses that will change the landscape of the niche they are targeting. Either they will create new markets and value networks or simply change the way things have been done before. We like it when entrepreneurs turn underlying beliefs on their heads.

It doesn’t have to be sexy or grandiose. Some of the best ideas can be in what many consider “boring” businesses. That’s why we invest in tech but don’t exclude non-tech ideas, areas often over-looked by investors.

2. First-Class Entrepreneur Teams

We look for exceptional entrepreneur/founder teams. They have to have drive, passion and talent. They must know their businesses. They must love their businesses. They must be great at inspiring teams around them. They must be open-minded to changes and challenges and fundamentally, they must have humility.

Although both the business model and team quality is important, we would rather invest in a Grade A team with a Grade B business than the inverse.

Where We Invest

Our primary investment focus is Indonesia. A market with 250 million people, 51% under the age of 29 with a burgeoning middle class with 10 million new households with $3,000 disposable income every year.

Smartphone penetration is growing at 35% CAGR every year with 70% of all web traffic being driven by mobile.

What We Invest In

We are stage agnostic. We can invest from seed to Series A to pre-IPO.

The Value We Add

Although the market statistics in Indonesia are compelling, being able to succeed in the country is a different story.

Our Founding Partners come from diverse industry backgrounds having established Indonesia’s leading enterprises in real estate, food, consumer, financial services, renewable energy, chemicals and agribusiness.

We believe in helping our portfolio companies by offering mentoring, strategic advice and business connections where necessary to help them achieve their goals.

We are long-term focused and patient. We are as hands-on as our portfolio companies want us to be. We aim to be true partners with our entrepreneurs and help them navigate the Indonesian market.


Adrien Gheur

Co-Founder and Managing Partner

Adrien Gheur has 18 years experience in alternative investments with leading private equity and hedge fund groups. Prior to co-founding Maloekoe Ventures, Adrien managed several award-winning Asian investment funds in Singapore as Managing Director with APS Asset Management and Concordia Advisors. Previously, Adrien worked with Lehman Brothers in Hong Kong and began his career in the Principal Investment Area of Goldman Sachs.

Having been based in Asia for over a decade, Adrien ...

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George Tahija

Founding Partner

George Tahija has served on the Board of Commissioners of ANJ since December 2012, after more than 20 years overseeing ANJ as the President Director.

Mr. Tahija serves as a member of the Board of Trustees, Darden School, University of ...

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Harun Hajadi

Founding Partner

Harun Hajadi is the Managing Director of Ciputra Group, one of the leading diversified property developers in Indonesia, which specializes in large scale integrated development projects combining housing, commercial and recreational centers and mixed...

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Husodo Angkosubroto

Founding Partner

Husodo Angkosubroto is the Chairman of PT. Gunung Sewu Kencana (GSK), an Indonesian-based investment and management Group with three core businesses: Agribusiness, Property Development and Life Insurance. Its agribusiness portfolio includes the world...

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Jimmy Masrin

Founding Partner

Mr. Masrin is currently the President Director/CEO of Caturkarsa Megatunggal (CM). CM is a family business holding company diversified across several industries that include: Chemicals, Mining, Fuel distribution and Supply Chain/Logistics businesses....

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Portfolio Companies


PT Maloekoe Investama Indonesia
Graha Indramas Lt. 4
Jl. Aipda II KS Tubun Raya No 77
Jakarta Barat 11410