MUFG's subsidiaries, MUFG Innovation Partners Co and MUFG Bank, have partnered with Bank Danamon Indonesia to set up a USD100m fund that will support emerging companies in the Indonesian market. The fund - MUFG Innovation Partners Garuda No. 1 Limited Investment Partnership, will make strategic investments in emerging companies that are expected to have synergies with Danamon, which is also a subsidiary of MUFG Bank. Indonesia represents the largest digital economy in the Southeast Asia region and the fund seeks to promote collaboration between MUFG and its investees in the country. With the help of the fund and their collaboration with investees, Danamon hopes to enhance its product competitiveness, promote digitalisation, and attract new customers using the customer contacts of their investees.
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