Indonesia's Financial Services Authority (OJK) announced it has revoked the business licence of PT Sarana Aceh Ventura (PT SAV), a venture capital company based in Banda Aceh, after it failed to meet the minimum equity requirement by the deadline following the end of a business activity freeze. The revocation was set out in an OJK Board of Commissioners member decision (KEP-65/D.06/2025 dated 29 October 2025) and was based on the venture capital rules in OJK Regulation No. 35/POJK.05/2015 and OJK Regulation No. 25/2023. PT SAV had previously been subject to an administrative sanction freezing its business activities for minimum equity breaches and was given time under an agreed fulfilment plan, but did not resolve the equity shortfall. With its licence revoked, PT SAV is prohibited from conducting venture capital business and must settle rights and obligations to debtors, creditors and other parties, provide clear information on settlement mechanisms, and comply with other legal obligations, including a prohibition on using the words “ventura” or “ventura syariah” in its company name. PT SAV must convene a general meeting of shareholders within 30 working days of the licence revocation to decide on dissolution and establish a liquidation team, and appoint a task force and service centre to serve debtors and the public until the liquidation team is formed, to be reported to OJK within five working days of the revocation notification.

Original source View in tracker