Global law firm K&L Gates has acted as fund counsel to Intudo for the recent closings of Intudo Ventures IV, LP, which has secured total capital commitments of US$75 million, as well as a US$50 million fund that will invest in downstreaming natural resources and renewable energy. Intudo is an investment firm operating in both Indonesia and Silicon Valley, specializing in early-stage investments within Indonesia – under an overarching mandate of bringing the world to Indonesia, and Indonesia to the world.
Intudo Ventures IV is Intudo’s fourth flagship fund supported by a diverse group of institutional investors and family offices spanning the United States, Asia, Europe, and the Middle East. This fund boasts participation from more than 20 leading global funds and managing partners, 15 Forbes-listed billionaires and their affiliated businesses, as well as more than 30 prominent Indonesian families and their associated conglomerates.
Intudo also closed a fund that will invest up to US$50 million in the downstreaming of natural resources and renewable energy in Indonesia. This fund aims to capitalize on the growing opportunities in these sectors within the country, aligning with Intudo’s commitment to fostering sustainable development in Indonesia.
The multi-office team that advised on the closings was led by Jason Nelms, an Asset Management and Investment Funds (AMIF) partner based in Singapore, and associate Charmaine Mok (AMIF, Hong Kong). They received support from several other partners, including Joel Almquist (Tax, Boston), Edward Bennett (AMIF, Singapore), Pablo Man (AMIF, Boston), Matthew Mangan (AMIF, San Francisco), and senior associate Anu Jose (AMIF, Singapore).
“It has been a privilege to support Intudo since its launch in 2017,” said Nelms. “The collaboration and bench strength of our global platform bolstered by our industry experience were key in enabling us to advise Intudo on the issues they faced – from navigating fund formation and complex regulatory and tax issues to negotiating fund documents with investors.”
Eddy Chan, Founding Partner of Intudo, said: “Through Intudo’s evolution, we have built a platform for investors and founders that realizes value through curated relationships, resources, and access through white glove concierge services. With the assistance of K&L Gates on this deal, we move closer to our vision of bringing the world to Indonesia, and Indonesia to the world – building ties that will help Indonesia climb the global value chain and create greater integration with overseas markets.”
K&L Gates’ AMIF practice is one of the largest and most experienced asset management legal teams. We provide bespoke legal services and practical advice across jurisdictions with in-depth understanding of our clients’ business, risk tolerance, and legal expectations.
* All Singapore lawyers are members of K&L Gates Straits Law LLC, the Singapore office of global law firm K&L Gates.
