OJK Cracks Down on Non-Compliant Venture Capital Firms

Regulatory Action Against Undercapitalized Companies

The Financial Services Authority (OJK) has disclosed that five venture capital companies are currently failing to meet the minimum equity requirements mandated by regulations. Agusman, OJK's Executive Head of Supervision for Financing Institutions, Venture Capital Companies, and Other Financial Institutions, stated that some venture capital firms have experienced equity deterioration and lack of capital injection, potentially leading to further sanctions including business license revocation.

Regulatory Framework for Minimum Equity

The minimum equity requirements are governed by OJK Regulation Number 25 of 2023, which categorizes the requirements into three distinct categories. Venture capital corporations must maintain a minimum equity of Rp50 billion, while venture debt corporations are required to have Rp25 billion. Sharia business units must maintain a minimum of Rp10 billion in equity.

Industry Performance and Regulatory Oversight

As of September 2025, the venture capital industry recorded total financing of Rp16.29 trillion, representing a marginal 0.25% year-on-year growth, although it showed a 0.24% month-on-month decline. The total assets of venture capital companies stood at Rp26.76 trillion, growing 3.91% year-on-year. OJK has been actively monitoring the industry, recently revoking the business license of PT Sarana Aceh Ventura for failing to meet the minimum equity requirement.

Enforcement Actions

During October 2025, OJK imposed administrative sanctions on two venture capital companies for violations of prevailing OJK regulations. The regulatory body continues to closely monitor the action plans of non-compliant firms, particularly focusing on capital injections from shareholders or credible strategic investors.