Governance push for VCs

PwC Indonesia and the Indonesian Venture Capital Association for Startups, or Amvesindo, used an April 8 workshop in Jakarta to push venture capital firms toward tighter governance and fraud controls. (jawawa.id) The event was held at World Trade Center 3 and paired a Halal Bihalal gathering with an executive workshop for Amvesindo members. AKURAT reported the association has 63 member firms, including 47 in Greater Jakarta and 16 outside the capital region. (akurat.co) PwC’s session focused on “Forensic Audit & Fraud Risk in Startup Investments: Detection, Prevention, and Mitigation Strategies,” with discussion centered on spotting irregularities before and after an investment is made. Kompas reported the workshop framed fraud risk as a core diligence issue for venture investors. (kompas.com) The governance push lands as Indonesia’s venture capital market is still growing, but under closer supervision. Kompas reported in January that venture capital financing in Indonesia had risen 1.20% year on year to Rp 16.29 trillion. (kompas.com) Regulators have also been raising the bar. The Financial Services Authority, or OJK, launched a 2024-2028 roadmap for venture capital firms in January 2024, and in February 2026 said it was strengthening governance and integrity across financing, venture capital and microfinance institutions through its fit-and-proper-test assessor program. (ojk.go.id 1) (ojk.go.id 2) Indonesia’s rules for venture firms have also been updated in the past two years. Allen & Gledhill said OJK’s roadmap followed Regulation 25 of 2023, while Lexology reported Regulation 46 of 2024 took effect on December 31, 2024 and replaced earlier venture-capital rules as part of a broader sector overhaul. (allenandgledhill.com) (lexology.com) PwC has been pitching governance in similarly concrete terms to Indonesian clients. Its local governance, risk and compliance practice says stronger internal controls and assurance frameworks are meant to improve decision-making, monitoring and reporting rather than serve as a box-ticking exercise. (pwc.com) For local venture managers, that means the job is shifting beyond sourcing deals and helping founders grow. The firms that want institutional capital increasingly need audit trails, investment memos, risk checks and reporting processes that outside allocators can read quickly and trust. (dailysocial.id) (canasean.com)