By Yantoultra Ngui
SINGAPORE (Reuters) -Sriwijaya Capital, a Southeast Asia-focused private equity firm, has raised more than $200 million for its debut fund and aims to hit a $300 million hard cap within six to 12 months, two people with knowledge of the matter said.
The Singapore and Jakarta-based firm plans to take strategic minority or majority stakes in Southeast Asian companies with regional expansion potential, particularly those facing succession challenges or family-run businesses seeking to become more professional, the sources said.
Its first deal is expected in the coming months, likely involving an Indonesian company, they said.
The people declined to be named as the matter is private.
Sriwijaya Capital declined to comment.
In a statement on Wednesday, the firm said it had launched its inaugural fund to invest in growth-stage companies in Indonesia and Southeast Asia, targeting healthcare, energy transition, consumer goods and services, and business services and industrials.
It did not disclose financial details.
Sriwijaya Capital was founded by Indonesian businessman Arsjad Rasjid, a former chief executive of Indika Energy who also chairs the Indonesian Chamber of Commerce and Industry.
(Reporting by Yantoultra NguiEditing by Tomasz Janowski)
