A unit under Indonesia's largest state-owned telecom conglomerate, TelkomMetra, is reportedly considering the sale of MDI Ventures, according to sources:
MDI Ventures is one of the largest corporate venture capital firms in Indonesia, managing a total of $830 million in assets:
TelkomMetra did not respond to CNBC's request for comment, while MDI Ventures stated, "At this time, we are not in a position to comment on or disclose any information regarding the matters":
TelkomMetra, a subsidiary of PT Telkom Indonesia (Persero), is "assessing various alternative strategic corporate actions" for MDI Ventures, including a sale:
MDI Ventures has been one of Indonesia's most active state-backed technology investors with a portfolio of over 80 companies, including six unicorns:
The potential sale follows a corruption verdict against two of its former executives over their investments in TaniHub Group:
Indonesia's 'state loss' doctrine means that poor investments by state-owned entities can become a criminal matter:
