German development fund DEG commits $20m to Provident Growth Fund II

German development fund DEG commits $20m to Provident Growth Fund II

Jakarta, Indonesia. Photo by Azka Rayhansyah on Unsplash

DEG, the investment arm of German state-owned development bank KFW, has committed to invest $20 million as a limited partner in Provident Growth Fund II, a fund focused on early growth tech companies in Southeast Asia, particularly Indonesia, managed by private equity firm Provident Capital Partners.