Indonesia's Financial Services Authority (OJK) announced the revocation of PT Sarana Sulteng Ventura’s business licence as a venture capital company after the firm failed to meet the applicable minimum equity requirement by the deadline set following a business activity freeze. The revocation was set out in an OJK Board of Commissioners member decree dated 16 June 2025 and follows earlier administrative sanctions freezing the company’s business activities for breaches of minimum equity rules. OJK cited provisions in OJK Regulation No. 35/POJK.05/2015 and OJK Regulation No. 25/2023 governing venture capital and sharia venture capital companies. Following the licence withdrawal, PT Sarana Sulteng Ventura is prohibited from carrying out 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 of the revocation to decide on dissolution and establish a liquidation team, appoint a task force and service centre to handle debtor and public enquiries until the liquidation team is formed and report these appointments to OJK within five working days of receiving the revocation notice. The company is also barred from using the words “ventura” or “ventura syariah” in its name.
OJK 2025-06-19
Indonesia's Financial Services Authority revokes PT Sarana Sulteng Ventura’s venture capital licence for failing to meet minimum equity requirements
Indonesia's Financial Services Authority (OJK) revoked PT Sarana Sulteng Ventura’s business licence for failing to meet the minimum equity requirement, following a prior business activity freeze. The revocation, based on OJK Regulations No. 35/POJK.05/2015 and No. 25/2023, prohibits the firm from conducting venture capital activities and mandates a general meeting of shareholders to decide on dissolution and liquidation procedures. The company must cease using "ventura" or "ventura syariah" in its name.