MUFG and Danamon Connect Businesses to Unlock Potentials and Build Mutual Collaborations

Press Release / 27 February 2023

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Jakarta, 27 February 2023 - MUFG Bank, Ltd. (“MUFG) and its strategic partner PT Bank Danamon Indonesia Tbk (“Danamon”) today hosted a Business and Investment Matching Fair to connect corporate customers within the MUFG ecosystem and provide access for startups to reach potential investors. The virtual Business Matching sessions were held 22 and 24 February, while the in-person session was held today. For the first time, MUFG and Danamon also held an Investment Matching forum for startups, with MUFG’s investment arms MUIP, KFIN and MARS Capital meeting and providing valuable insights to Indonesia startups. As many as 115 customers, 150 startups, and three of MUFG’s financing vehicles attended the two events.

The annual business matching event is a platform that enables MUFG and Danamon to connect customers of both banks to meet and network, exchange business insights, explore opportunities for collaboration, and ultimately with the desired outcome to secure business deals. 

For the first time, a complementary Investment Matching Fair is held to enable Indonesian startups  meet and network with MUFG’s various financing entities and discuss opportunities for collaboration. The event comes in the wake of the announcement of the placement of USD 100 million in an Indonesia-focused venture fund named the MUFG Innovation Garuda No. 1 Limited Investment Partnership (“Garuda Fund”) by Danamon, MUFG and MUIP. 

“Danamon and MUFG are delighted to hold these events which brings an added value for all customers within the MUFG ecosystem. We hope that our clients will gain from the opportunity to be connected with MUFG’s network of Japanese and Asian corporations,  identify partnerships and prospects that will no doubt surface with the re-opening of Indonesia and the region. The new investment matching fair for start-ups will also be an eye-opener for us and we look forward to meeting promising companies that Danamon can work with in the future. We are committed to realizing our commitment, which is growing together with our customers and helping them discover opportunities where they can strengthen their businesses through a collaboration between MUFG and Danamon,” said Yasushi Itagaki, President Director of PT Bank Danamon Indonesia Tbk.

Similar business matching agenda is carried out in other countries by MUFG’s other strategic partners -  Krungsri (Bank of Ayudhya) in Thailand and Security Bank in the Philippines. These events can offer opportunities for Danamon customers to build business connections with the customers of MUFG subsidiaries and bank partners, as well as the Japanese corporates in Japan.

“This event is important for both MUFG and Danamon because it covers and fulfills the need from both sides of the supply-demand chain within the MUFG ecosystem. This year’s Business and Investment Matching Fair aims to reaffirm our commitment to not only support the resumption of business in key sectors post-pandemic, but also shine a spotlight on the promising start-up scene in Indonesia. Together with Danamon and MUFG’s investment fund partners, we hope to connect with Indonesian start-ups and explore new ideas to collaborate and help our businesses take greater strides towards sustainable growth,” said Kazushige Nakajima, Executive Officer, Country Head of Indonesia, MUFG Bank, Ltd.

“Danamon and MUFG have built a strong base to support strategic investments in Indonesia’s highly competitive digital startup industry. As a long-term investor in Indonesia, MUFG provides an ecosystem which enables Danamon to forge collaborations between strategic investors and startups with business scaling and digital capabilities. The collaboration allows Danamon to strengthen product offerings, secure access to a more diverse customer base, and grow the financial industry through digital innovations. We hope that our clients can benefit from today’s event and continue to trust Danamon as their bank partner of choice to help them take control of all their financial needs and goals,” said Honggo Widjojo Kangmasto, Vice President Director of PT Bank Danamon Indonesia Tbk.

The events are expected to increase the engagement of Danamon and MUFG customers with the whole value chain in the MUFG ecosystem. Through the “One MUFG” spirit, MUFG and Danamon aim to provide a holistic approach for its corporate customers with a very comprehensive selection of financial products and services supported by MUFG’s global network. With this approach, customers are expected to be able to grow their business in a sustainable manner for the long run.

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