It will be hard for newcomers to break Indonesia’s food delivery duopoly, expert says.

The consumer brands segment has been described as the ‘last hot battlefield of Chinese VCs.’

After joining his family timber export business, David Yong developed and diversified the company, and established Evergreen Assets Management.

Agusta is the director of Venture Funds at Mandiri Capital Indonesia, a corporate VC  from one of the largest banks in the country.

Grab last year also became an investor in the payment provider.

Aside from making investment easier for young Indonesians, the firm aims to increase the country’s financial literacy.

WeLab plans to bring its wealth management platform to Southeast Asia, starting with Indonesia.

The country aims to inoculate 181.5 million citizens by March 2022.