Merah Putih

What Merah Putih does

Merah Putih Inc. is an Indonesian startup incubator and early-stage investor headquartered at Wisma 77 Tower 2 in Slipi, Jakarta, operating as part of GDP Venture's venture capital ecosystem. Originally established as PT Merah Cipta Media in 2011 and relaunched as Merah Putih Inc. in 2014 under the tagline "Ignite the Ideas," the firm provides seed capital, mentorship, managed services, and access to a global operator and investor network to early-stage Indonesian technology startups. Its stated focus areas are Fintech, SaaS platforms, and community-based verticals, and its portfolio of nine companies spans social media platform engines (ANSVIA), tech news (DailySocial), residential rental listings (Infokost), gaming and movie content (Kincir), smart city reporting (Qlue), offline advertising technology (Ubiklan), preloved fashion marketplace (Tinkerlust), Q&A platforms (Tado), and rental marketplaces (Cumi). Leadership includes CEO Antonny Liem and founders Aulia Kausar and Sulaiman M., supported by a broader team of operators and investors drawn from the Indonesian technology sector.

The firm's go-to-market is sales-led within the startup ecosystem: it acquires equity positions through direct outreach and inbound business proposals submitted to [email protected], rather than selling products or services to external end customers. Its revenue model is effectively investment returns — equity stakes in portfolio companies monetized through exits, follow-on funding rounds where stakes are partially divested, or eventual acquisitions and IPOs. A representative example is portfolio company Kurio, which raised a 67 billion rupiah Series B in 2015 and a $5 million investment from Japan's Gunosy in 2016. Distribution and marketing are limited to the company website, Indonesian tech media coverage (including portfolio-owned DailySocial), and ecosystem events such as the STILE Initiative partnership with Stan Group and Jumpstart Media.

Merah Putih Inc. holds no proprietary technology assets of its own; its offering to founders is the combination of seed capital, operational support, network access, and mentorship rather than a software platform. The firm operates exclusively within Indonesia (Southeast Asia), with no claimed global footprint, and is privately held under the GDP Venture umbrella. No revenue figures, AUM, fund size, or recent (post-2018) operational milestones are disclosed in available sources, limiting visibility into current scale.

Name

Merah Putih

Legal name

Merah Putih Inc.

Website

https://merahputih.co.id

Company type

Private

Founded year

2011

Operating status

Operating

Headcount range

101–250 employees

Short description

Merah Putih Inc. is an Indonesia-based startup incubator and early-stage investor that provides seed capital, mentorship, managed services, and network access to early-stage Indonesian technology startups, with a portfolio of nine companies across social media, smart city, marketplace, and media verticals, operating under parent GDP Venture.

Ownership category

akta.pro rank

Product category

Startup Incubator and Venture Capital Services

akta.pro primary industry

Accelerators & Incubators (Investor-Operated) (FSANAAAM)

akta.pro secondary industry

SME & Entrepreneurship Development (Trade-Linked) (BPADAMAE)

Keywords

• Startup incubation services
• Venture capital investment
• Seed funding programs
• Tech startup mentorship
• Early-stage equity investment

Headquarters

HQ city

Slipi

HQ country

Indonesia

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales

Revenue model

1. Investment Returns: Merah Putih Inc. generates returns through equity investments in early-stage Indonesian technology startups. The company takes equity stakes in portfolio companies and realizes returns through exits, follow-on funding rounds where stakes are partially divested, or eventual acquisitions/IPOs of portfolio companies.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Merah Putih Inc. is a Jakarta-based startup incubator and early-stage investor that provides seed capital, mentorship, network access, and managed services to Indonesian technology startups in exchange for equity stakes. It targets promising local startups in Fintech, SaaS, and community-based verticals and currently holds equity in nine portfolio companies including DailySocial, Qlue, Kincir, Tinkerlust, Infokost, Ubiklan, Tado, ANSVIA, and Cumi.

Differentiator

Problem solved

Functional benefit

Products and services

• Startup Incubation Program

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Stan GroupminorStrategic or Co-development PartnerStan Group partnered with Jumpstart Media on the STILE Initiative, a program that combines experience and direct investment with a modern approach. Merah Putih Inc. encouraged portfolio startups to apply to this initiative offering accommodation and stipend in Hong Kong.

Scale indicators2 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• Indigo (Telkom): Telkom Indonesia's flagship digital startup accelerator and venture builder, headquartered in Indonesia. Directly comparable as a corporate-backed Indonesian incubator offering mentorship, seed funding, and network access to early-stage tech startups.
• Ideabox: Telkomsel's startup accelerator program focused on Indonesian early-stage startups. Directly comparable as a telecom/corporate-backed incubator targeting the same Indonesian tech founder pool with seed funding and mentorship.
• MDI Ventures: Corporate venture arm of Telkom Indonesia investing in early-to-growth stage Indonesian and Southeast Asian tech startups. Comparable as a domestic Indonesian investor with multi-stage capabilities and corporate backing.
• East Ventures: One of Indonesia's earliest and most active seed-stage venture capital firms. Directly comparable for its early-mover position, seed-stage focus, and broad Indonesian tech portfolio.
• Plug and Play Indonesia: Indonesia arm of global accelerator Plug and Play, running corporate-backed accelerator programs in Jakarta. Comparable for providing structured mentorship, corporate network access, and seed investment to Indonesian startups.
• GK-Plug and Play: Indonesia-focused accelerator that was a JV between GK and Plug and Play, providing seed funding and programs to early-stage Indonesian startups. Comparable niche-focused Indonesian accelerator.

Broad incumbents

• 500 Global (formerly 500 Startups): Global venture capital firm and accelerator with active programs in Southeast Asia including Indonesia. Comparable as a globally-branded investor-operated accelerator, though with significantly larger AUM and geographic reach.
• Techstars: Global accelerator running cohort-based mentorship programs with a large portfolio worldwide. Comparable for the structured accelerator model, but operates at much broader scale across multiple geographies.
• Y Combinator: World's largest startup accelerator providing seed funding and intensive mentorship to early-stage companies. Comparable for accelerator model and brand, but globally focused with vastly larger portfolio and resources.

Regional players

• Alpha JWC Ventures: Indonesia and Southeast Asia-focused early-to-growth stage venture capital firm. Comparable in mandate and geography though typically writing larger checks than a seed-stage incubator.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/MerahPutihInc
• LinkedInlinkedin.com/company/merah-putih-inc.

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries9 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments7 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Merah Putih