Venture Capital 2025

INDONESIA Law and Practice Contributed by: Alvin Suryohadiprojo and Dimas Nandaraditya KARNA

Malaysia

Indonesia

Jakarta

Australia

Contents 1. Trends p.264

1.1 VC Market p.264 1.2 Key Trends p.264 1.3 Key Industries p.265 2. Venture Capital Funds p.265

2.1 Fund Structure p.265 2.2 Fund Economics p.266 2.3 Fund Regulation p.267 2.4 Particularities p.267 3. Investments in Venture Capital Portfolio Companies p.267 3.1 Due Diligence p.267 3.2 Process p.268 3.3 Investment Structure p.268 3.4 Documentation p.269

3.5 Investor Safeguards p.269 3.6 Corporate Governance p.270 3.7 Contractual Protection p.270 4. Government Inducements p.270 4.1 Subsidy Programmes p.270 4.2 Tax Treatment p.271 4.3 Government Endorsement p.271 5. Employment Incentives p.271 5.1 General p.271 5.2 Securities p.271 5.3 Taxation of Instruments p.272 5.4 Implementation p.272 6. Exits p.272 6.1 Investor Exit Rights p.272 6.2 IPO Exits p.273 6.3 Pre-IPO Liquidity p.274 7. Regulation p.274 7.1 Securities Offerings p.274 7.2 Restrictions p.274

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