Telkom Indonesia explores sale of venture arm MDI Ventures amid portfolio review

Indonesia's state‑owned telecom group PT Telkom Indonesia, through its subsidiary TelkomMetra, is evaluating options for MDI Ventures, the group's venture‑capital arm that manages roughly US$830 million (about Rp 15 trillion) and holds stakes in more than 80 portfolio companies, including six unicorns.

Sources say the process is in early stages, with no final decision made. TelkomMetra has hired Jefferies to advise on a possible sale and has circulated an internal letter to at least one portfolio company requesting feedback on the contemplated corporate action by 17 July 2026. Telkom and MDI Ventures have declined to comment further, stating that any material information will be disclosed through official channels. The discussion comes as overall startup funding in Indonesia has been slowing, with recent funding totals down sharply from previous years.