Living Lab Ventures (LLV) Attracts Global Investors to Indonesia through Strategic Investment and an Integrated Ecosystem
Jakarta, 13 February 2026 – In an increasingly competitive global investment landscape, success is no longer defined solely by the availability of capital, but by the ability to build strategic collaborations that effectively bridge ideas, markets, and real-world implementation. The combination of cross-border collaboration, execution-ready ecosystems, and strong access to the domestic market has made strategic partnership–based investment models increasingly relevant in attracting global investors to enter and grow in Indonesia. In response to these dynamics, Living Lab Ventures (LLV), the corporate venture capital (CVC) arm of Sinar Mas Land, is strengthening its investment approach through a strategic collaboration ecosystem, particularly in the urban innovation and healthcare sectors. LLV positions itself not merely as an investor, but as a strategic collaboration platform that orchestrates synergies among global investors, corporations, startups, institutions, and strategic partners within a structured, execution-oriented framework. These strategic insights were presented during the LLV Corporate Update and Media Briefing titled “Mobilizing Capital and Global Partnership: Powering Urban and Healthcare Innovation,” held on Wednesday, 11 February 2026, at The Energy Building, South Jakarta. Mulyawan Gani, CEO of Digital Business Sinar Mas Land and Managing Partner of LLV, stated, “Global investors today are looking for more than just investment opportunities. They need partners who can orchestrate collaboration and ensure clear implementation pathways. LLV serves as a strategic bridge connecting global capital with local ecosystems in an integrated manner. This approach positions LLV as a partner capable of lowering market entry barriers and accelerating the validation and adoption of solutions.” LLV’s strategic collaboration model ensures that every investment is supported by a structured go-to-market strategy, access to strategic partners, and clear implementation support. Beyond connecting investors and innovators, LLV also facilitates integration with corporations and relevant ecosystems to enable sustainable business growth. Bayu Seto, Partner at LLV, added, “Our role is to act as a catalyst for cross-border collaboration. We ensure that every partner has access to the networks, infrastructure, and ecosystem needed to scale. With this approach, global investors can move faster and enter the Indonesian market with greater confidence.” Currently, LLV manages four thematic investment vehicles: the City Centric Fund, the Healthcare Fund, the Urban Gateway Fund, and one of its latest funds, the Japan Thematic Fund. All of these investment vehicles are focused on sectors with strong long-term growth potential, particularly in urban development and healthcare services, with an emphasis on implementation readiness, market adoption, and the creation of measurable economic impact. LLV’s key strength lies in its ability to provide a clear entry pathway for global investors and partners. Through its integrated ecosystem, LLV supports global investors not only in deploying capital, but also in understanding the local market context, building relevant local partnerships, and accelerating implementation. This comprehensive approach has strengthened global investor confidence in entering the Indonesian market. Supported by the BSD City ecosystem as a living laboratory and implementation sandbox, LLV provides a space for global partners to pilot solutions, localize business models, and accelerate market development within an integrated environment. Through initiatives such as the International Landing Pad and LLV Innovation Lab (InnoLab), LLV presents a collaboration model that enables global investors and innovators to establish a stronger and more sustainable presence in Indonesia. By strengthening its strategic collaboration–based investment model, LLV reaffirms its commitment to becoming a platform that brings together global capital, innovation, and local ecosystems within a sustainable synergy framework—driving the acceleration of urban innovation and healthcare services while strategically and systematically attracting global investor participation.
Living Lab Ventures (LLV) Launches Japan Thematic Fund to Strengthen Economic Growth and Strategic Collaboration between Japan and Southeast Asia
BSD City, November 6, 2025 – Living Lab Ventures (LLV), the corporate venture capital arm of Sinar Mas Land, in a strategic partnership with Spiral Ventures, today announced the launch of the Japan Thematic Fund, a landmark initiative designed to strengthen economic collaboration and unlock new opportunities for strategic growth between Japan and Southeast Asia, with Indonesia at its core. The launch also marks the fund’s first close, which was officially formalized through the signing of a Memorandum of Understanding (MoU) on Wednesday, November 5, 2025 in BSD City, Indonesia. The MoU was signed by Mulyawan Gani (CEO of Digital Business, Sinar Mas Land), Yuji Horiguchi (Managing Partner, Spiral Ventures), Kazuyoshi Mizukoshi (Chief Investment Officer, Cool Japan Fund), Daisuke Ejima (President Director, Bank Danamon Indonesia), Ferdinand Sadeli (Deputy Group CEO & Chief Investment Officer, Sinar Mas Land), Takahiro Waki (Chief Financial Officer, Culture Convenience Club), Asamitsu Kosugi (Chief Executive Officer, Advasa), and Kanae Kubo (Senior Manager, Rohto Pharmaceutical). The signing was witnessed by Michael Widjaja (Group CEO, Sinar Mas Land) and Shingo Kobayashi (Director, Chairman Office at Sinar Mas Group & Advisor at Japan Thematic Fund). The Japan Thematic Fund is supported by a strong syndicate of strategic investors from both Japan and Indonesia. Among them is Cool Japan Fund, a Japanese public–private investment fund dedicated to contributing to the sustainable growth of Japan’s economy by expanding overseas demand and supply for attractive products and services that reflect Japan’s unique lifestyle and culture. Cool Japan Fund joins as one of the key investors in the fund. Other investors include Bank Danamon Indonesia, a member of the MUFG Group; Rohto Pharmaceutical; Advasa; Culture Convenience Club (the holding company of TSUTAYA, one of Japan’s largest bookstore chains); and Sinar Mas Land, which also serves as a cornerstone limited partner. This collaboration reflects growing confidence in the potential of strategic investment between Japan and Southeast Asia, reinforcing the shared mission to create long-term economic value and deeper bilateral cooperation. The collaboration between Living Lab Ventures and Spiral Ventures form a powerful alliance that not only mobilizes capital but also enables collaboration, market access, and business synergy between Japanese and Southeast Asian companies. LLV leverages its innovation ecosystem in BSD City, Indonesia, which has become a hub for digital transformation and smart city developed by Sinar Mas Land. This mega township has become a prime destination for businesses to grow, offering an ideal environment for global investors and innovators to collaborate, test new ideas, and scale their ventures across markets. LLV plays a vital role in bridging collaboration between global investors and Indonesian startups, positioning itself as a key connector in the regional technology landscape. Meanwhile, Spiral Ventures will bring extensive experience from its operations across Asia, with a focus on investing in companies capable of solving social challenges and shaping the future of emerging markets. Bayu Seto, Partner at Living Lab Ventures, stated, “The Japan Thematic Fund reflects Indonesia’s emergence as a key innovation hub and gateway for international collaboration. The participation of Cool Japan Fund and other leading investors underscores the growing global confidence in Southeast Asia’s potential and validates our mission to build meaningful, cross-border partnerships. With Cool Japan Fund’s involvement, we are not only deepening the connection between Japanese capital and Southeast Asian innovation but also creating an enduring platform for founders to grow beyond borders. Our commitment goes beyond financial returns—we aim to nurture long-term collaboration and empower ventures that embody the shared spirit of innovation between Japan and Southeast Asia.” Yuji Horiguchi, CEO and Managing Partner of Spiral Ventures, emphasized, “This initiative goes far beyond investment—it represents true integration. By uniting Japan’s technological precision and cultural excellence with Southeast Asia’s entrepreneurial energy and speed, we aim to create new business models, foster sustainable innovation, and generate social impact that transcends borders. This fund embodies our belief that collaboration between Japan and Southeast Asia will define the next wave of growth and innovation across the region.” Mulyawan Gani, CEO of Digital Business of Sinar Mas Land, emphasized, “We are proud to see this collaboration come to life, bringing together respected institutions from Japan and Indonesia. The Japan Thematic Fund represents a commitment by Sinar Mas Land through LLV and other partners to strengthen the economic ties between our nations through innovation and technology. With Cool Japan Fund’s participation and the expertise of our partners, we are creating a foundation for long-term collaboration that will generate shared prosperity for both Japan and Indonesia.” The launch of the Japan Thematic Fund builds upon LLV’s broader mission of shaping BSD City as Indonesia’s leading ecosystem for digital innovation and smart city development. By leveraging Sinar Mas Land’s extensive business ecosystem across real estate, digital technology, and community development, LLV is uniquely positioned to help startups validate, scale, and create meaningful partnerships with corporates in both Indonesia and Japan. With this fund, LLV and Spiral Ventures reaffirm their commitment to advancing high-impact ventures and creating a borderless innovation ecosystem where Japan and Southeast Asia can collaborate to tackle industry challenges, accelerate growth, and unlock new economic opportunities. (*)
Living Lab Ventures (LLV) Announces Strategic Investment in INCREASE Laboratorium Indonesia, a Research and Clinical Laboratory Company to Strengthen Indonesia’s Clinical Research Infrastructure
BSD City, November 4rd, 2025 – Contract research organizations (CROs) are essential components of the healthcare innovation ecosystem—supporting pharma, biotech, medtech companies, and academic institutions in conducting research and testing on new therapies and medical devices. The development of CROs is in line with the priorities of the Ministry of Health of the Republic Indonesia as the demand for high-quality, efficient, and globally standardized clinical research continues to rise. According to the Indonesia Contract Research Organization Market report published by 6Wresearch, the Contract Research Organization (CRO) market in Indonesia is projected to reach USD 1 billion by 2030, growing at a CAGR of 10.6% from 2024. Recognizing this potential, Living Lab Ventures (LLV), the corporate venture capital arm of Sinar Mas Land, officially announced a strategic investment in the Indonesia Institute for Clinical Research and Scientific Exploration (INCREASE) Laboratorium Indonesia, a rapidly growing clinical research company that provides world-class clinical trial conduct and laboratory services. The funding will be used to expand operations, strengthen research outcomes, and accelerate INCREASE’s global network. Headquartered in the Biomedical Campus within the D-HUB Special Economic Zone (D-HUB SEZ) in BSD City, INCREASE delivers fully integrated, end-to-end clinical research solutions encompassing study design, execution, regulatory affairs, and both clinical and bioanalytical laboratory testing. Backed by extensive operational experience, deep regulatory insight, a vast network, a strong professional talent base, and advanced laboratory infrastructure, INCREASE is ready to stand out as a trusted partner for global-standard research execution. Its comprehensive capabilities position the company to accelerate healthcare innovation, enhance time-to-market efficiency, and capture growing demand within Indonesia’s rapidly expanding life sciences sector. Bayu Seto, Partner of Living Lab Ventures, said, “This investment reflects LLV’s broader commitment to accelerating growth in Indonesia’s healthcare sector, one of the country’s most promising and fastest-growing industries, as demand for advanced clinical research infrastructure and regional health resilience continues to grow. Indonesia has the potential to become a regional powerhouse in health and biomedicine, and we see INCREASE as a strategic platform that can catalyze the national clinical research ecosystem, attract global partners, and enhance the future competitiveness of Indonesia’s healthcare sector.” This investment is part of LLV’s long-term strategy to support high-priority sectors with global scalability, including healthcare, technology, and education. With the integration of technologies like IoT and AI, and a growing focus on major therapeutic areas such as oncology and infectious diseases, Indonesia is becoming an increasingly strategic location for internationally recognized clinical research development. Mulyawan Gani, CEO of Digital Business at Sinar Mas Land, explained, “As demand grows for healthier, longer lives, the health sector is becoming central to future development. INCREASE’s presence in BSD City strengthens the research and education ecosystem we are building and brings Indonesia closer to the world’s leading medical innovation hubs. This investment reflects our belief that the convergence of science, technology, and infrastructure will be key to placing Indonesia on the global medical innovation map, and that Sinar Mas Land through BSD City is ready to lead that transformation.” On the same occasion, dr. Robby Hertanto, Chief Executive Officer of INCREASE, added,“We are honored to receive LLV’s trust and investment. This investment is more than capital, it is evidence of our shared commitment to advance healthcare innovation and build Indonesia’s role as a global hub for world-class clinical research. With LLV’s strategic support and ecosystem network, we aim to accelerate scientific discovery, nurture local talent, and create meaningful impact that extends beyond borders. Together, we are shaping the future of the Indonesian healthcare ecosystem through collaboration, innovation, and purpose-driven growth.” INCREASE has also forged strategic partnerships with Tsinghua University (China) and The University of Osaka (Japan) to advance research and development in healthcare innovation. These collaborations combine global academic excellence with INCREASE’s growing research capabilities to accelerate the translation of scientific breakthroughs into practical healthcare solutions. The partnerships also include joint research programs, technology transfer, and manpower training initiatives aimed at nurturing local expertise and strengthening Indonesia’s biomedical research ecosystem. Currently, INCREASE is executing multiple projects with clients from Indonesia, Singapore, Australia, and China. The demonstrates its growing reputation as a trusted regional partner for high-quality clinical research. In line with its commitment to global standards, INCREASE is also pursuing international certifications, including the College of American Pathologists (CAP), ISO 9001:2015, ISO 17025:2017, and ISO 15189:2022 to further enhance its operational credibility, quality assurance, and competitiveness in the global clinical research landscape. (*)
Living Lab Ventures (LLV) Establishes Strategic Collaboration with IGPI Singapore to Support Japanese Companies’ Expansion into Indonesia
BSD City, October 2, 2025 – Living Lab Ventures (LLV), the corporate venture capital arm of Sinar Mas Land, has signed a Memorandum of Understanding (MoU) with Industrial Growth Platform Pte. Ltd. (IGPI Singapore). The MoU was signed last September by Bayu Seto (Partner at Living Lab Ventures) and Kohki Sakata (CEO of IGPI Singapore). The partnership aims to help Japanese companies develop business opportunities in Indonesia—Southeast Asia’s fastest-growing economy, while also strengthening strategic collaboration between the two countries. Under this collaboration, IGPI Singapore will provide management consulting and investment advisory services for Japanese clients seeking entry into the Indonesian market. Meanwhile, LLV will offer access to its extensive networks, deep industry expertise, and strategic resources within Indonesia’s business ecosystem. One of the key assets offered is BSD City, a 6,000-hectare mega-township developed by Sinar Mas Land, home to nearly 500,000 residents, and serving as a living laboratory for innovation development. With its comprehensive urban infrastructure, BSD City presents an ideal ecosystem for market research, proof-of-concept (PoC) testing, and the formation of strategic partnerships. The integration of consulting support, network access, and an urban ecosystem forms the foundation for a more effective market-entry mechanism. Through this combination, the collaboration will establish a soft-landing platform that enables Japanese companies to enter Indonesia with reduced risks while accelerating execution at a higher strategic level. This is expected to boost the success of Japanese business expansion in Indonesia while also opening broader partnership opportunities in the future. Bayu Seto, Partner at Living Lab Ventures (LLV) stated, “This initiative aligns with LLV’s mission to bridge Indonesia’s ecosystem with global opportunities. By positioning BSD City as a hub for Japanese companies to test and grow their businesses, we are creating new pathways for investment, technology transfer, and sustainable growth that will benefit both countries. LLV will support IGPI and its partners by facilitating research and market analysis, implementing PoCs, arranging business matching with potential partners, and curating business tours to connect Japanese companies with relevant stakeholders both in BSD City and the wider Indonesian economy. This approach not only provides a strategic entry point for Japanese firms but also drives Indonesia’s economic development through foreign investment inflows, job creation, and knowledge transfer.” Kohki Sakata, CEO of IGPI Singapore added, “We see Indonesia as a market with tremendous opportunities for Japanese companies, particularly with its young population, expanding middle class, and rapid digital adoption. Partnering with LLV and Sinar Mas Land allows us to deliver not just advisory services to our clients, but also a real-world ecosystem where they can test, adapt, and grow their businesses while maximizing the potential available.” This collaboration reinforces BSD City’s growing role as an international hub for innovation and business expansion while strengthening Indonesia’s position as a strategic destination for Japanese companies in Southeast Asia. With LLV as the driver of the innovation ecosystem, this step opens opportunities for increased foreign direct investment, technology collaboration, and job creation in Indonesia. For Japan, the partnership provides a reliable partner and a tangible platform to access one of the region’s most dynamic economies. (*)
Living Lab Ventures (LLV) Launches InnoLab to Establish BSD City as Indonesia’s Innovation Hub, Connecting Startups with Global IPs Across Five Strategic Sectors
BSD City, August 13, 2025 – The e-Conomy SEA 2024 report by Google, Temasek, and Bain projects Indonesia’s digital economy to reach USD130 billion by 2025. This growth positions Indonesia as one of the most dynamic innovation markets in Southeast Asia. Global companies are increasingly interested in entering the region, not only for market expansion but also for startup-driven research and development collaborations. Seizing this opportunity, Living Lab Ventures (LLV), the corporate venture capital arm of Sinar Mas Land, has launched InnoLab, a co-innovation program designed to accelerate the creation of real-world solutions through collaboration between Indonesian startups and global technologies. Through InnoLab, startups will gain access to a wide range of Intellectual Property (IP) and technologies from LLV’s global partners across various countries. The co-innovation technology program focuses on five strategic sectors: renewable energy, digital health, next-generation semiconductors, sustainable logistics, and environmental solutions. In its first batch, InnoLab introduces a six-month program aimed at helping startups access and develop inclusive global deep-tech innovations, supported by LLV’s network of experts, mentors, and commercialization advisors. Through this initiative, startups can localize global technologies to suit Indonesia’s market needs while accelerating product go-to-market timelines. Bayu Seto, Partner at Living Lab Ventures, stated, “InnoLab is where global deep-tech innovation meets real local execution. Today, startups need more than just funding—they need access to proven technologies, expert guidance, and a safe environment to experiment. At the same time, global companies are continuously looking for the right partners and ecosystems to localize their innovations. InnoLab bridges these two needs while positioning BSD City as a growing hub for applied innovation in Indonesia. Moving forward, we will continue to establish new partnerships in intellectual property and global innovation to expand and enrich our innovation pipeline, while fostering stronger collaboration between startups and global technology leaders.” LLV developed InnoLab through a Real Co-Innovation Delivery approach, which consists of three key pillars: real-world testing environments, expert support, and a collaborative and flexible innovation process. This method enables startups to be matched with IP owners, facilitates structured business matching, milestone-based technical reviews, and market validation through pilot projects, surveys, and user research. One of InnoLab’s key advantages is its integration with BSD City, a 6,000-hectare mega township developed by Sinar Mas Land. With a population of over 500,000 residents and hundreds of businesses operating within the area, BSD City serves as a living lab, providing startups with opportunities to test, validate, and scale their solutions directly within the community. Supported by digital infrastructure, technology-driven services, smart mobility systems, and active community engagement, BSD City offers an ideal ecosystem to accelerate the large-scale development of future technologies. InnoLab also provides startups with a structured development pathway tailored to local needs, helping them strengthen their technology and intellectual property portfolios. The program offers innovators a rare opportunity to engage directly with frontier technologies, guided by both global and local experts, while testing their products in a dynamic urban environment. Through the launch of InnoLab, LLV reinforces its role as a catalyst for transformative innovation—driving meaningful collaboration between startups and corporations to co-create impactful solutions for society and industry.
Enhancing Global Partnerships, Living Lab Ventures (LLV) Collaborates with the New South Wales Government, Australia through the International Landing Pad Program
Jakarta, September 12, 2024 – Living Lab Ventures (LLV), the corporate venture arm of Sinar Mas Land, announced its strategic initiatives for the second half of 2024, underlining its commitment to driving global partnerships and fostering economic growth in Indonesia. With a focus on expanding its network, strategic partnerships, and supporting innovation, LLV continues solidifying its position as Indonesia’s premier gateway for global companies and a catalyst for digital economic creation. To attract global investment and support Indonesian startups, LLV collaborates with the New South Wales (NSW) Government through the International Landing Pad program. This strategic alliance not only offers LLV’s portfolio companies a foothold in Sydney, NSW, Australia, but also provides them with essential resources, local market insights, and networking opportunities. Other than that, LLV supports NSW companies seeking to enter the Indonesian market, further solidifying its influence in both regions. The Hon. Anoulack Chanthivong, Minister for Industry and Trade of NSW said, “NSW is the epicenter of startups and innovation in Australia. The International Landing Pad program is part of a suite of activities the NSW Government is implementing to support the innovation sector, increase investment, and boost exports. Our partnership with LLV will strengthen ties between Indonesia and NSW, providing support for Indonesian companies looking to expand into our market, while allowing NSW businesses to scale up and expand on an international level.” Bayu Seto, Partner of Living Lab Ventures explained, “Our strategy is rooted in blending local expertise with international reach. This unique positioning allows us to stand out in a competitive market and offer unparalleled growth opportunities, both for global companies entering Indonesia and for Indonesian startups looking to make their mark internationally. As we are expanding to the Australian market, our strategic partnership with the NSW Government exemplifies our commitment to fostering cross-border growth. By bridging the gap between Indonesia and Australia, we are creating new economic opportunities that benefit both regions.” In the second half of 2024, LLV continues its focus on maximizing the economic potential of BSD City as a Special Economic Zone (SEZ), by creating a business ecosystem open to startups to explore and develop new ideas focused on the medical, education, and digital sectors. Mulyawan Gani, Chief Transformation Officer of Sinar Mas Land highlighted LLV’s strategic importance within Sinar Mas Land’s vision, “LLV aligns seamlessly with our long-term strategy to drive innovation, economic growth, and sustainable development across Indonesia. By aligning with our vision, LLV empowers us to identify and nurture promising startups and breakthrough technologies that contribute to the development of smart cities, with BSD City as an example in its role as a Special Economic Zone. The establishment of our venture capital arm allows us to not only drive innovation at home but also strengthen our global partnerships, creating a dynamic ecosystem where Indonesian companies can scale internationally. This step reinforces Sinar Mas Land’s commitment to advancing Indonesia’s economy while also positioning itself as a leader in the development of sustainable cities that are prepared to face future challenges.” LLV is dedicated to providing targeted support to its portfolio companies, helping them scale operations and expand into new markets. To meet the evolving needs of startups and attract global investors, LLV continuously enhances its strategic investment and advisory services. Recently, LLV launched the Biomedical Fund, focusing on startups in the biomedical field, research centers, biobanks, health technology, and related areas. To date, LLV has empowered startups across three key technology sectors, such as Smart Technologies, Digital Life, and Mobility. Its portfolio includes notable companies such as Traveloka, GoTo, Dana, Sirclo, GoWork, Jendela360.com, OneSmile, Flokq, Ideal, Waste4Change, Urban Gateway Fund, Pashouses, Lingkup, Twospaces, Bamms, Jumpstart, DOOgether, Paper.id, Amoda, BRIK, Imajin, Social Bread, Artotel Group, DCT Agency, Tebengan, and DCG, the parent company of Lamudi. LLV remains committed to supporting digital-based startups that drive positive change within the startup ecosystem in Indonesia and Southeast Asia. (*)