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Kejora-Intervest fund invests in Indonesian tech startup DIVA

Indonesian venture capital firm Kejora Ventures and South Korea-based InterVest Co. Ltd. made an investment in Jakarta-based tech startup PT Distribusi Voucher Nusantara Tbk, or DIVA, KrASIA reported, citing a company statement.

The investment was made through the InterVest Star SEA Growth Fund I, a joint fund between Kejora and InterVest. The deal was carried out via a sales and purchase agreement with IT management company M Cash Integrasi, which sold a portion of its 12.3% shareholding in DIVA.

While no financial details were disclosed in the official statement, a spokesperson said M Cash sold "under 10%" of its stake in DIVA to the Kejora-InterVest fund.

DIVA is a software solution that enables small- and medium-sized enterprises to sell digital products while accepting different modes of payment.