Indonesia’s Financial Services Authority (OJK) has revoked the business licence of venture capital firm PT Dana Mandiri Sejahtera (PT DMS) after the company failed to meet the minimum equity requirement by the deadline set when its business activities were previously frozen as an administrative sanction. The revocation was formalised through an OJK Board of Commissioners member decision dated 8 July 2025 and is based on OJK’s venture capital regulations (including POJK 35/2015 and POJK 25/2023). OJK noted it had given PT DMS time to carry out strategic steps under an agreed remediation plan, but the minimum equity shortfall was not resolved. Following the revocation, PT DMS is prohibited from conducting venture capital business and must settle rights and obligations with debtors, creditors, and other parties. It must hold a general meeting of shareholders within 30 working days to decide on dissolution and establish a liquidation team, provide clear information to stakeholders on settlement mechanisms, appoint a responsible person and staff to run a task force and service centre until the liquidation team is formed (to be reported to OJK within five working days), and it is barred from using the terms “venture capital” or “Sharia venture capital” in its name.
OJK 2025-07-09
Indonesia's Financial Services Authority revokes PT Dana Mandiri Sejahtera’s venture capital licence for failure to meet minimum equity requirements
Indonesia’s Financial Services Authority (OJK) has revoked the business licence of PT Dana Mandiri Sejahtera for failing to meet the minimum equity requirement. The firm is prohibited from conducting venture capital activities and must settle obligations with stakeholders, hold a general meeting to decide on dissolution, and establish a liquidation team. PT DMS is also barred from using "venture capital" or "Sharia venture capital" in its name.