Each year, Bain & Company releases a comprehensive list of “insurgent brands,” defined primarily as high-growth independent, local consumer brands not owned by a multinational corporation. They compete head-on with the market’s largest incumbents or create new categories altogether.  Indonesia is predicted to be the world’s fourth-largest economy by 2045. Estimates suggest its GDP per capita could reach a tipping point of US$7,500 by 2030. When combining all the market's key ingredients, we end up with an environment where disposable incomes are set to explode and fuel the growth of consumer sectors like wellness, luxury goods, cosmetics, beauty clinics, and more. With us today to discuss is Melina Anlin, VP of Investment at AC Ventures, a former senior manager at Bain in Indonesia, and an expert on the rise of local insurgent brands.

The real estate and infrastructure sectors are responsible for about 40% of global carbon emissions, and addressing the climate crisis requires reforming these industries. Today, we are talking to Annu Talreja, Founder and CEO of Accacia, an Asian startup that enables large property owners to monitor their carbon footprint in real time by integrating with ERPs and property management systems.  Accacia has already been implemented across more than 20 million square feet of real estate in Asia. Today, the company is expanding across Southeast Asia, the Middle East, the United States, and Canada. Speaking with Annu today is Helen Wong, Managing Partner at AC Ventures.

Today, we look into the strategic communications and storytelling aspects of venture building with two expert guests, both of whom are part of AC Ventures' advisory community for the startups we invest in. Mike Amour is a seasoned veteran in the global advertising and communications industry. His current role is Founding Advisor and Director at Salamander Advisory, founded by a group of TMT growth professionals to help VC firms and tech companies meet milestones and achieve their potential. Mike's career includes working on Nike’s comms strategy as it boomed in the 1990s, as well as those of other blue-chip global brands. He has held C-level roles at some of the world’s most renowned agencies, including McCann Worldgroup, Wieden+Kennedy, Grey Advertising, Havas, and more. Also with us is Harumi Supit, a principal at Alur Communications. She’s an indie powerhouse and strategic comms consultant, and the former Head of Corporate Communications for OVO, before and after its acquisition by Grab. If you’re an ACV portfolio founder, both Harumi and Mike are available for consultations by reaching out via our value creation team.

In today's MindShare episode, we dive into Indonesia’s new retail scene. Host Leighton Cosseboom is joined by Tiffany Danielle, co-founder of Rosé All Day Cosmetics (RADC), an Indonesian beauty brand that recently raised a series A round of US$5.41 million led by SWC Global, with participation from AC Ventures and new backer DSG Consumer Partners. The round came shortly after RADC saw 4x annual revenue growth in 2022 followed by 6x growth in 2023.  Also with us, Jack Zhang is the co-founder of Simplus, a leading Southeast Asian small home appliance brand that tripled sales in 2023. Some of its most popular items include its signature high-speed hair dryers, easy-to-use air fryers, high-quality vacuums, mops, and more. During the ‘Double 11’ shopping festival in 2023, Simplus ranked number one on TikTok and number two behind Philips on Shopee’s top brands in small home appliances and achieved a record-breaking US$1 million in sales on a single day. Both companies have reported profitability.

In this NewsCast episode, AC Ventures' Adrian Li and Leighton Cosseboom team up with Jianggan Li from Momentum Works to dissect TikTok's strategic acquisition of a controlling 75% stake in GoTo's Tokopedia for US$1.5 billion, a move sure to revolutionize Indonesia's e-commerce arena in 2024 and beyond. The group unpacks how the acquisition could catapult Tokopedia to e-commerce supremacy in the nation. They discuss the transformative impact on job creation and the potential boon for over 64 million Indonesian MSMEs. Tune in for a deep dive into the intensifying e-commerce rivalry, speculations on possible counter-moves by Shopee and Lazada, and perhaps even collaborations with giants like YouTube or Instagram.  The trio also sheds light on TikTok's ambitious plan to leverage cutting-edge data analytics for unparalleled market influence. Listen as Jianggan, Adrian, and Leighton unravel the extensive implications of this deal for consumers, sellers, investors, and the Indonesian tech ecosystem at large.

In this NewsCast episode, Adrian Li and Leighton Cosseboom dive into the Indonesia Venture Capital 2023 report, produced in partnership between AC Ventures and Bain & Company. The pair discuss an imminent upswing in sectors like electric vehicles, renewable energy, healthcare, and new retail, despite the global economic downturn. The episode particularly highlights Indonesia's potential in the electric vehicle market, emphasizing its significant global nickel production, crucial for lithium-ion batteries. The local government's ambitious carbon emissions goals and the evolving investment landscape in the electric two-wheeler space are also explored. The conversation then shifts to the broader picture of Indonesia's digital economy, its growth trajectory, and the potential for funding to pick back up for later-stage deals post-2024 elections.

In this NewsCast episode, Adrian Li and Leighton Cosseboom from AC Ventures analyze the e-Conomy SEA 2023 report by Google, Temasek, and Bain & Company. They dig into Southeast Asia's digital economic growth trajectory, on track to reach an impressive US$100 billion in revenue, outpacing established tech markets like the US despite global macroeconomic headwinds. Shifting to focus on Indonesia, the pair discuss its growth potential, the build-up of dry powder in the market, local investor insights, and the digital sector's push for profitability – delivering what may be a light at the end of the tunnel in 2024. The episode covers the region's US$218 billion GMV growth, e-commerce's 22% revenue boost, and the impact of prioritizing more affluent customer segments as it relates to what the report calls the “digital divide” in emerging markets.

On today's NewsCast, Adrian Li and Leighton Cosseboom from AC Ventures analyze J&T Express's scaled-back IPO. Amid a sluggish period for Hong Kong's IPO market—currently at a two-decade low—J&T adjusted its expected IPO from an initial US$1 billion to US$500 million due to market uncertainties and diminished investor appetite linked to China's recent performance. The episode also touches on how J&T's association with key e-commerce platforms like Shopee and Tokopedia, and tech giants such as Pinduoduo and TikTok, may influence its strategy regarding Indonesia's shifting online transaction laws. The conversation explores J&T's response to these regulations and its potential valuation strategies. Tune in for a clear understanding of J&T's current market position and strategic outlook in the rapidly evolving Southeast Asian logistics and technology landscape. This discussion is valuable for those looking to understand the dynamics shaping Asia's tech IPO market.

Today, we kick off an interesting series on value creation for startups in emerging markets. AC Ventures Principal Leighton Cosseboom is joined by Natasha Nababan, founder of NABS & Partners in Jakarta. With over 20 years of legal experience at both private practice and multinational companies, today Natasha is a key advisor for AC Ventures' portfolio companies. But she is also the guiding legal hand for many other tech companies in Indonesia, namely in the multibillion-dollar and ever-evolving e-commerce and fintech sectors.

Today marks the debut of AC Ventures' latest NewsCast series. Host Leighton Cosseboom is joined by ACV's Founder and Managing Partner Adrian Li to discuss the nuances of Indonesia's latest regulation pertaining to TikTok Shop. China's TikTok has 125 million monthly active users in Indonesia, its second-largest market in the world. In 2022, TikTok Shop Indonesia recorded a gross merchandise value of US$2.5 billion. But as per regulation No.31/2023, Indonesia's Ministry of Trade now says that social media platforms cannot facilitate sales, e-commerce sites cannot directly sell imported items under US$100, and e-commerce platforms cannot act as producers or manufacturers. Players like TikTok Shop have a seven-day grace period to adapt. Meanwhile, shares of publicly traded Sea Limited (NYSE: SE) and GoTo (IDX: GOTO) jumped significantly after the news broke. Adrian and Leighton also discuss the current state and future of the local technology investment space. Hear the pair's analysis and predictions of what is next to come.