Telkom Indonesia to invest in Silicon Valley
PT Telekomunikasi Indonesia (Telkom Indonesia) has said it plans to invest $200 million in a number of Silicon Valley start-ups in the US.
Arief Yahya, president at the company, said that it has partnered with Fenox Venture Capital to seek the start-ups and tap into the lucrative digital industry in Silicon Valley.
According to local reports, Telkom Indonesia will enter the market via its information, media and entertainment subsidiary, Telkom Metra.
Yahya told local reporters that the investment is intended to help Telkom Indonesia meet its target of having international business operations count for 10% of its total income in 2015.