Indonesia-based Archipelago Venture Capital has invested in the Philippines’s Verta Bioenergy; Trihill Capital has backed Singapore-based hospitality operator Open Concept Group; while Indonesia-based pharmacy chain Viva Apotek has fully acquired pharmacy chain Farmaku.
Archipelago VC backs biomass startup Verta Bioenergy
Indonesia-based early-stage, impact-focused investor Archipelago Venture Capital (AVC) has invested in Philippine biomass energy startup Verta Bioenergy, marking its third investment and its first exposure beyond Indonesia.
The deal brings AVC’s portfolio to 10 companies across the region when combined with investments under its earlier Bali Investment Club (BIC) vehicle, according to a LinkedIn post by partner Nicolo Castiglione. Financial details of the transaction were not disclosed.
Verta Bioenergy converts agricultural waste—such as chicken manure—into biomass pellets designed to replace coal in industrial use. The product is positioned as a drop-in fuel compatible with existing boilers, offering cost-competitive performance and more stable combustion.
The startup is targeting Southeast Asian markets, including the Philippines, where dependence on imported coal continues to expose industrial players to price volatility and supply risks.
Founded by Jeremy Tan and Timothy Khor, Verta has moved from concept to early commercial traction within a year, securing pilot projects with industrial customers and building an off-take pipeline ahead of a broader rollout.
Trihill Capital invests in Singapore hospitality platform
Southeast Asia-focused venture capital firm Trihill Capital has backed Singapore-based hospitality operator Open Concept Group (OCG), marking a bet on premium, design-led dining concepts in the region. Financial details of the transaction were not disclosed.
Founded by Aaron Yeunh, OCG is the group behind several restaurant brands, including Scarpetta, Smash Street, and Blind Tiger. The company positions itself as a concept-driven hospitality platform, focusing on distinct brand identities and curated dining experiences in a competitive food and beverage market.
Trihill Capital said in its LinkedIn post that the investment aligns with its strategy of supporting operators shaping modern consumer and hospitality experiences across Southeast Asia.
OCG is expected to use the fresh capital to support its next phase of growth, although specific expansion plans were not disclosed.
Viva Apotek acquires Farmaku to expand retail footprint
Indonesia-based pharmacy chain Viva Apotek, operated by PT Sumber Hidup Sehat, has fully acquired pharmacy network Farmaku as part of its strategy to strengthen its position in the country’s retail healthcare sector.
The acquisition agreement was signed on April 10, 2026. Farmaku currently operates 10 outlets and generates annual sales of around 110 billion rupiah ($6.4 million). The company was first founded in 2017 by Iswandi Simardjo in Jakarta.
Through the deal, Viva Apotek aims to expand its store network and improve operational efficiency by integrating distribution and procurement systems.
Following the acquisition, Viva Apotek’s total network has grown to 125 outlets across 44 cities and regencies in Indonesia, up from 115 previously.
The company said the move is part of its long-term strategy to scale up operations and enhance competitiveness amid the growth of Indonesia’s healthcare industry. It is also targeting stronger penetration in the middle-to-upper income segment, which it sees as a high-growth market.
The integration of Farmaku is also expected to strengthen Viva Apotek’s omnichannel strategy by combining its physical retail network with digital health services, expanding access to pharmacy services across Indonesia.
