OJK Redefines Venture-Capital Industry

The Financial Services Authority (“OJK”) has issued Regulation No. 35/POJK.05/2015 on the Organization of Venture-Capital Businesses (“2015 Regulation”) in a bid to improve national economic growth by optimizing the role of venture-capital companies in accelerating the development of micro- to medium-scale businesses across the country.[1]
 
In essence, the 2015 Regulation outlines a number of provisions which relate to the organization of business activities undertaken by venture-capital companies, and covers: