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Bank Rakyat Indonesia names head of venture capital division

PT Bank Rakyat Indonesia appointed Nicko Widjaja as head of its corporate venture capital division, BRI Ventures, Bloomberg News reported July 31.

Most recently, Widjaja was CEO of MDI Ventures, the first venture fund of state-owned PT Telekomunikasi Indonesia.

Bank Rakyat is looking to invest as much as US$250 million over three years to support startups, the report added, citing Nyoman Sugiri Yasa, executive vice president for technology partnership at the bank and a commissioner at BRI Ventures.