Grupara Ventures, one of the first seed-stage VC firms in Indonesia, has rebranded as Absolute Confidence (AC).

It has also launched a new fund and secured investments and commitments from several LPs, its co-founder and partner Aryo Ariotedjo said in an interview to DealStreetAsia.

As per its website, AC invests in tech startups at pre-product, seed- and Series A-stages. “We’re industry-agnostic and are excited about teaming up with hungry and visionary founders, who bring wide positive impact. We admire entrepreneurs with global ambitions who use technology to solve relevant problems,” reads its description.

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Founded in 2011, Grupara invested in early-stage tech startups (seed and Series A). Since its beginning, it has backed over a dozen startups, including BukuKas, Dropezy, Ayoconnect, Kopi Kenangan, Fabelio, and Andalin.

Southeast Asia recently witnessed the launch of a slew of seed-stage VC funds. These include iSeed SEA, a micro-fund launched in October by AngelList’s India CEO Utsav Somani and its former top executive Wing Vasiksiri. A sector-agnostic fund, iSeed SEA is primarily focusing on Indonesia, Singapore, Vietnam, and Thailand.

Early this month, Singapore-based Beamstart also launched a US$10 million digital accelerator fund. It looks to invest in experienced teams focusing on tackling cross-border digital-related solutions in emerging markets with potential synergies to partner with China/Japan/US corporates.

Image Credit: Unsplash.

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