Indonesia sovereign wealth fund INA targets data centres, AI in healthcare, renewables

Core Insights - The Indonesia Investment Authority (INA) is focusing on digital infrastructure, healthcare, and renewable energy as it seeks foreign partnerships to support Indonesia's economic development [1][2] Group 1: Fund Overview - INA was established in 2020 with an initial capital of $5 billion from the government and began operations in 2021 [2] - The fund currently manages 163.4 trillion rupiah (approximately $10 billion) in assets and has expanded its investment strategy to include hybrid capital and private credit [2] - INA is Indonesia's first sovereign wealth fund, now smaller than the newly launched Daya Anagata Nusantara Investment Management Agency, which has $20 billion in state assets [3] Group 2: Investment Focus - The fund is prioritizing investments in data centers and digital infrastructure, including sub-sea cables, to meet the growing demand for data independence and resiliency [3][4] - INA has partnered with Granite Asia to invest over $1.2 billion in Indonesia's tech and AI ecosystem, including backing the DayOne data center campus in Batam [4] - Artificial intelligence is a key area of focus, with plans to explore practical applications, particularly in healthcare [5] Group 3: Renewable Energy - Renewables remain a significant focus for INA, highlighted by a successful investment in Pertamina Geothermal Energy in collaboration with Masdar Clean Energy [5] Group 4: Financing Strategy - INA aims to support cross-border growth by providing financing options outside of the traditional bank-dominated structure prevalent in Asia [6] - The fund addresses the challenges faced by Indonesian companies in international expansion, where domestic banks may not be able to provide adequate support [6]