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New venture capital platform by Indonesian creative network FCN and Vynn Capital launches

New venture capital platform by Indonesian creative network FCN and Vynn Capital launches

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Creative Gorilla Capital, a new venture capital platform initiated by a collaboration between Future Creative Network (FCN), Vynn Capital, and Pomona, is launching a debut fund of US$20 million named Gorilla Silverback Fund. The fund focuses on investing in potential D2C/consumer-focused startups across the ecosystem in Indonesia. Creative Gorilla Capital focuses on backing potential startup businesses with the creative and marketing expertise to further hone the right strategy in achieving hypergrowth.

“We believe it’s important for Creative Gorilla Capital to encourage Indonesian startups by providing the best service and positively impact the wider community,” said Benz Julio Budiman, 29, founding & managing partner of Creative Gorilla Capital.

In addition to funding and expert consulting from the partners, Creative Gorilla Capital also provides selected startups with access to the largest creative ecosystem in the region. “Exposing them to world-class marketing professionals and data-driven solutions since early days will enhance the startups’ probabilities to win," added Budiman.

Based on whitepaper data released by Accenture, the rapid growth in the goods and services market reached six-fold at US$7.9 billion between 2015 and 2020 and is expected to continue growing in the future in Indonesia. This is influenced by Indonesia's population which now reaches more than 260 million people, rapid urbanisation, and the increase in people's per capita income.

Creative Gorilla Capital added that as eCommerce platforms in Indonesia mature, supply chains become more efficient and rely on technological advances, D2C services will potentially thrive in the coming years. It is very important to note however, that “D2C” is still very much nascent in the region; Indonesia specifically requires an omni-channel approach which requires reliance not only in eCommerce but also through traditional/ modern trade channels.

Therefore, Creative Gorilla Capital initiated the US$20Mn Gorilla Silverback Fund to build the momentum for D2C/ Consumer-focused startups to ride on the surge of the digital business ecosystem in Indonesia.

“By tapping into arguably the largest creative network in the region; new startups can access all the necessary resources to create a winning brand, from day one. We will help startups to apply consumer insight & brand-led thinking to fuel their growth. Expertise that was usually given to incumbents/ established brands, will be made available to all our portfolios,” said Budiman.

For this reason, Creative Gorilla Capital is not only investing but also honing the expertise and sharing the broad experience of its three partners with startup entrepreneurs from day one. Future Creative Network (FCN) is an expert in the marketing ecosystem with more than 42 companies and agencies under its wing. FCN will play an active role in providing complete access to integrated expertise and creative solutions in branding and digital services for CGC to nurture D2C brands further and achieve effective results.

Meanwhile Vynn Capital has worked with several successful portfolio companies include Southeast Asia’s largest integrated car e-commerce ecosystem, Carsome, and Indonesia’s largest property management platform, Travelio.

Having the experience in Consumer Packaged Goods/FMCG background combined with Data in Pomona, Benz added that the company confident that Indonesia is the right place to find the next wave of D2C/Consumer Products businesses. With Creative Gorilla Capital as an expansion move, Benz positioned Pomona to become the data core for both internal and portfolios in providing research and data insight to identify the next product trends to thrive within the region with the potential to scale globally.

Furthermore, Creative Gorilla Capital will allocate the US$20M to startups selectively by looking at several key critical indicators. Factors such as a clear path to profitability, tested product market fit, and distribution prowess will be the main emphasis in the selection process. In addition, potential startups must embrace a forward-thinking vision to disrupt the future in categories such as sustainability, social equality, and also responsible consumerism.

“To date, Creative Gorilla Capital has invested in more than five innovative and aspiring startups including Offmeat, Ringkas, Kynd, and Allura, with a few more deals in the works. Despite the current winter phase in the overall market, CGC are confident in eyeing enduring startups that could truly outlast it. Our goal in the next three years is to work selectively and closely with future leaders to build a lasting winning brand that could thrive not only locally but also globally. We truly hope that through our work, we can provide a lasting impact to revitalize the Indonesian creative economy and showcase Indonesian products to the world” said Benz.

Related articles:
Anne Ridwan joins R3 as Indonesia country director
Marketing podcast: Life after advertising with Anne Ridwan
Ogilvy Indonesia names new chief executive as Anne Ridwan steps down
Anne Ridwan joins Ivan Hadywibowo's FCN to supercharge growth

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