PWI Calls for Stronger Venture Capital Industry to Support Indonesian Startups and SMEs

JAKARTA, Aug 20, 2026 — Indonesia’s venture capital industry needs to be strengthened to expand access to financing for startups and small and medium-sized enterprises (SMEs) and support sustainable economic growth, the head of the Indonesian Journalists Association (PWI) said.

PWI Chairman Akhmad Munir said venture capital should not only provide funding but also help strengthen business networks, corporate governance and long-term support for companies receiving investment.

“Many of our startups face difficulties in accessing capital. Venture capital needs to strengthen its networks, governance and business ecosystem,” Munir said at a journalism talk show in Jakarta on Wednesday.

He called for closer cooperation between regulators, venture capital firms and industry associations to build a healthier investment ecosystem.

Aulia Fadly, head of the Financial Services Authority (OJK) directorate overseeing venture capital and special financial institutions, said licensed and registered venture capital firms fall under the regulator’s supervision.

“For those that are legal, licensed and registered, it is our domain to review and supervise them,” Aulia said.

OJK conducts supervision from the licensing stage, including fit-and-proper tests for prospective management and controlling shareholders, as well as document checks, interviews and background investigations, he said.

The regulator also has mechanisms to mitigate potential violations and impose administrative sanctions, although misconduct by individuals remains a challenge, Aulia said.

Meanwhile, macroeconomic policy expert YB Suhartoko of Atma Jaya University in Jakarta said regulators should pay greater attention to companies receiving venture capital investment, which he said could be in a weaker position when dealing with investors with greater financial resources.

“Since the recipient companies are in a weaker position, stronger support from OJK is needed,” Suhartoko said.

He said stronger oversight and assistance would help create healthier investment relationships and improve the sustainability of companies receiving venture capital. (Janne Sinten)