Indonesian Law Firms Shift Focus Amid Decrease in Tech Venture Capital Deals

Indonesian law firms are pivoting their focus to sectors such as health care, nickel mining, and telecommunications amidst a significant decrease in venture capital deal work over the past year. This transition is a response to industry changes that occurred after Indonesia’s Widodo administration made a noticeable shift in 2016. Aiming for an average annual growth of 7%, the administration sought to provide financing access to small and medium businesses, along with IT startups. One of the major boosts to the tech startup scene came in the form of a $100 million investment from U.S.-based firm Sequoia Capital and Japan’s SoftBank Group to the e-commerce marketplace Tokopedia in 2014, sparking a tech industry boom. More information can be discovered through the original article.