Skystar Capital, a venture capital firm operating since 2014 and focused on early-stage tech startups in Indonesia, has introduced its new tagline, “Local Roots, Home for Visionaries”, at the end of 2024. This tagline not only underscores Skystar Capital’s commitment to being a strategic partner for early-stage startup founders but also reflects its dedication to building long-term partnerships with visionary Indonesian founders, fostering sustainable growth, and contributing to Indonesia’s Vision 2045 for self-reliance and enhanced global competitiveness.
Through its foundation of “Local Roots”, Skystar Capital provides support to Indonesian startup founders, enabling them to access industry resources and strategic collaboration opportunities to deliver innovative solutions to their users. Skystar Capital boasts an extensive network across key sectors such as media, hospitality, manufacturing, education, publishing, logistics, and automotive—a unique advantage among local venture capital firms. This aligns with the spirit of Indonesia’s Vision 2045, leveraging strong local networks to drive tangible national-scale change.
Meanwhile, the pillar of “Home for Visionaries” solidifies Skystar Capital’s position as a “home” for founders with long-term visions to create meaningful and sustainable impacts for Indonesia’s future. As a venture capital firm deeply familiar with the Indonesian market, Skystar Capital understands the country’s needs and potential. This principle aligns with Vision 2045, which includes objectives such as increasing the investment-to-GDP ratio to 38.1% by 2045 and fostering innovation in technology and local industries.
“We are here not just to provide funding but also to build strategic relationships with these visionaries. We aim to ensure they receive the guidance, networks, and resources needed to sustain their businesses in the long term. We believe the founders we support have the potential to drive significant change in Indonesia and position the country as a hub of innovation in Southeast Asia,” said Abraham Hidayat, Managing Partner of Skystar Capital.
Since its inception, Skystar Capital has partnered with startups that have grown into major players, including Carro, Paper.ID, JULO, FUSE, and Komunal. These successes reinforce the philosophy of “Local Roots, Home for Visionaries” and reflect Skystar Capital’s dedication to supporting the startup ecosystem through funding, business development, and access to industry networks.
Skystar Capital’s Core Pillars: Founder Support with a Focus on Impact
As a strategic partner, Skystar Capital consistently places founders at the heart of its focus. This approach allows flexibility to meet founders’ specific needs and ensures their potential to contribute to a better Indonesia.
Geraldine Oetama, Partner at Skystar Capital, added, “In every investment decision, we consider the founder’s ability to execute their long-term vision. We view these founders as catalysts who will drive Indonesia’s digital economy. We believe that technologies like AI and ESG principles will play key roles in shaping Indonesia’s future economy, while also creating high-quality jobs through cross-industry collaborations. Their innovation and leadership will bring significant changes to Indonesia’s tech ecosystem.”
This commitment aligns with Vision 2045, which emphasizes sustainable industry development and increased participation of an educated workforce, aiming to reduce unemployment rates to 3-4% and ensure positive impacts on portfolio businesses.
One of Skystar Capital’s standout portfolio companies, Paper.id—a B2B invoicing and transaction platform—offers solutions that simplify invoice creation, payment management, and financial record-keeping. Since its establishment in 2017, Paper.id has empowered B2B businesses to thrive in the digital economy era, enabling SMEs across Indonesia to strengthen their positions in an increasingly competitive market.
Paper.id also leverages artificial intelligence (AI) and Optical Character Recognition (OCR) technology to automate document reading processes accurately, enhancing operational efficiency in financial management and improving decision-making accuracy.
“We aim to be the go-to platform for SMEs, not only in Indonesia but across Southeast Asia. The strategic network support from Skystar Capital expands our access to the B2B market, reaching more large enterprises to accelerate the adoption of our financial solutions focused on business efficiency,” said Yosia Sugialam, Co-Founder and CEO of Paper.id.
As a local venture capital firm, Skystar Capital understands the challenges and opportunities in the Indonesian market. Skystar Capital invites founders to create innovative solutions that are not only locally relevant but also elevate Indonesia’s reputation on the global stage.
At Skystar Capital, we take pride in being the first backers of visionaries. With deep local expertise and an extensive network in the Indonesian market, we are ready to support your innovative solutions to drive Indonesia forward. Submit your business proposal here!
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