As part of its efforts to fulfill its mandate under Law 4 of 2023 regarding Financial Sector Development and Strengthening (UU P2SK), the Financial Services Authority (Otoritas Jasa Keuangan or 'OJK') recently issued the 2024-2028 Roadmap for the Development and Strengthening of Venture Capital Companies. A key component of this roadmap is the further development of regulations, licensing, and supervision for venture capital companies, most recently demonstrated by the issuance of OJK Regulation No. 25 of 2023. One of the objectives of the new regulation is to provide venture capital companies with the option to align their business with their intended targets, leading to the categorization of Venture Capital Corporations and Venture Debt Corporations. The new regulation also aims to encourage the development of venture funds by introducing new requirements for managing a venture fund, while also implementing safeguards for venture fund unit holders.

Dentons HPRP's lawyers, Erwin Kurnia Winenda (Partner), Rio Fabrianus Pasaribu (Senior Associate), Josha Jehuda Ponggawa (Associate), and Mikhael Bernand Harianja (Associate), have prepared an analysis on this matter. In this write-up, the lawyers highlighted new requirements and changes in the new regulation that venture capital companies and those considering establishing one should take note of.

The full analysis can be downloaded here.

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