Photo credit: Monk’s Hill Ventures

Monk’s Hill Ventures has closed its Indonesian office, the Singapore-based venture capital firm confirmed to Tech in Asia.

The move comes as the firm restructures its leadership team and shifts its investment focus from early-stage startups to growth-stage companies, according to a July 23 report by DealStreetAsia.

Monk’s Hill declined to comment beyond confirming the office closure. The firm has backed notable tech companies such as Ninja Van and Glints.

Previously based in Jakarta’s SCBD financial district, Monk’s Hill was an early backer of Indonesia’s digital economy. The office closure ends the firm’s more than decade-long presence in the country.

Since its founding in 2014, Monk’s Hill has invested in several Indonesian startups, including logistics platform Waresix, ecommerce roll-up Hypefast, agritech lender Crowde, and aquaculture company Delos.

It has also recorded exits including cybersecurity firm Horangi and, most recently in March 2026, comics platform Inkr.

The move comes amid a tougher fundraising environment for Southeast Asian venture capital firms. In 2024, Monk’s Hill co-founder and managing partner Kuo-Yi Lim said institutional investors now expect “three to four” meaningful exits from each fund, rather than just one.

The office closure also comes as Indonesia’s Financial Services Authority (OJK) begins enforcing new rules requiring foreign venture capital firms to obtain licenses for their representative offices.

See also: Indonesia’s new VC rules struggle to win foreign buy-in