Indonesia launches US$20B sovereign wealth fund with focus on AI and tech.
The government of Indonesia has officially launched its new sovereign wealth fund, Daya Anagata Nusantara Indonesia (Danantara Indonesia), with a massive US$20 billion earmarked for its initial investment phase.
President Prabowo Subianto unveiled the fund, also known as Danantara Indonesia, at a formal ceremony. Danantara aims to boost Indonesia’s economic growth from approximately 5 per cent to 8 per cent through strategic investments.
Danantara Indonesia is designed to manage over US$900 billion in assets to stimulate development within Southeast Asia’s largest economy. It will operate independently from the Indonesia Investment Authority (INA), the country’s first sovereign wealth fund, which currently manages US$10.5 billion in assets with co-investors like the Dutch pension fund APG Asset Management and Abu Dhabi Investment Authority.
The fund will consist of two units: a holding company to oversee state-owned enterprises (SOEs) and an investment arm.
Source: E27
