LLV Strengthens Japan–Southeast Asia Collaboration Through Japan Thematic Fund

November 6, 2025 | Press Release
BSD City, November 6, 2025 – Living Lab Ventures (LLV), the corporate venture capital arm of Sinar Mas Land, in strategic partnership with Spiral Ventures, has announced the launch of the Japan Thematic Fund, a strategic initiative designed to strengthen economic collaboration and unlock new opportunities for growth between Japan and Southeast Asia, with Indonesia as a key focus market.
The launch also marks the fund’s first close, formalized through the signing of a Memorandum of Understanding (MoU) on Wednesday, November 5, 2025, in BSD City, Indonesia. The MoU was signed by Mulyawan Gani (CEO of Digital Business, Sinar Mas Land), Yuji Horiguchi (Managing Partner, Spiral Ventures), Kazuyoshi Mizukoshi (Chief Investment Officer, Cool Japan Fund), Daisuke Ejima (President Director, Bank Danamon Indonesia), Ferdinand Sadeli (Deputy Group CEO & Chief Investment Officer, Sinar Mas Land), Takahiro Waki (Chief Financial Officer, Culture Convenience Club), Asamitsu Kosugi (Chief Executive Officer, Advasa), and Kanae Kubo (Senior Manager, Rohto Pharmaceutical), and witnessed by Michael Widjaja (Group CEO, Sinar Mas Land) and Shingo Kobayashi (Director, Chairman Office at Sinar Mas Group & Advisor at Japan Thematic Fund).
Strategic Japanese and Indonesian Investors Join the Japan Thematic Fund
The Japan Thematic Fund is backed by a consortium of strategic investors from Japan and Indonesia, including Cool Japan Fund Inc. (CJF), a Japanese public-private investment fund dedicated to contributing to Japan’s sustainable economic growth by expanding overseas demand and supply for distinctive and attractive Japanese lifestyle and cultural products and services, as one of the fund’s key investors.
Other investors include Bank Danamon Indonesia, part of the MUFG Group, Rohto Pharmaceutical, Advasa, Culture Convenience Club the parent company of TSUTAYA, one of Japan’s largest bookstore chains, and Sinar Mas Land, which also serves as a cornerstone limited partner. The collaboration reflects growing confidence in the potential for strategic investment between Japan and Southeast Asia, while reinforcing a shared commitment to creating long-term economic value and deepening bilateral cooperation between the two regions.
LLV and Spiral Ventures Advance Innovation Across Asia
The collaboration between LLV and Spiral Ventures establishes a strategic alliance that goes beyond capital deployment to facilitate collaboration, expand market access, and strengthen business connections between Japanese and Southeast Asian companies.
LLV brings to the partnership the innovation ecosystem of BSD City, Indonesia, which has evolved into a hub for digital transformation and smart city development within the Sinar Mas Land ecosystem. This mega township has become a destination for businesses seeking to grow, providing an environment where global investors and innovators can collaborate, test ideas, and scale their businesses across markets.
Within this ecosystem, LLV plays an important role in connecting global investors with Indonesian startups, positioning itself as a key connector within the region’s technology landscape. Meanwhile, Spiral Ventures brings extensive investment experience across Asian markets, with a focus on companies developing solutions to address social challenges and shape the future of emerging economies.
Japan Thematic Fund Strengthens Indonesia’s Role in Innovation
Bayu Seto, Partner at Living Lab Ventures, said, “The Japan Thematic Fund reflects Indonesia’s growing role as an innovation hub and gateway for international collaboration. The participation of Cool Japan Fund and other leading investors demonstrates global confidence in the potential of Southeast Asia and reinforces our mission to build meaningful cross-border partnerships. With Cool Japan Fund on board, we are not only deepening the connection between Japanese capital and Southeast Asian innovation, but also creating a sustainable platform for startup founders to grow beyond borders.”
Integrating Japan and Southeast Asia to Drive Growth
Yuji Horiguchi, CEO and Managing Partner at Spiral Ventures, added, “This initiative goes far beyond investment—it is about integration. By combining Japan’s technological precision and cultural strengths with Southeast Asia’s entrepreneurial energy and rapid growth, we aim to create new business models, drive sustainable innovation, and deliver social impact across borders. This fund reflects our belief that collaboration between Japan and Southeast Asia will be a key driver of the region’s next wave of growth and innovation.”
BSD City as a Hub for Innovation and Collaboration
Mulyawan Gani, CEO of Digital Business at Sinar Mas Land, emphasized, “We are proud to bring together this collaboration, connecting leading institutions from Japan and Indonesia. The Japan Thematic Fund represents Sinar Mas Land’s commitment, through LLV and its partners, to strengthening economic ties between the two countries through innovation and technology. With the fund operating from BSD City, we aim to demonstrate Indonesia’s readiness to serve as a hub for innovation collaboration across the region. Together with Cool Japan Fund and our other partners, we are building the foundation for long-term collaboration that can create shared prosperity for Japan and Indonesia.”
LLV Advances the Startup and Smart City Ecosystem in BSD City
The launch of the Japan Thematic Fund forms part of LLV’s long-term mission to develop BSD City as a leading ecosystem for digital innovation and smart city development in Indonesia. By leveraging Sinar Mas Land’s extensive business ecosystem across real estate, digital technology, and community development, LLV is strategically positioned to help startups validate their solutions, scale their businesses, and establish strategic partnerships with corporations in Indonesia and Japan.
Through this strategic investment initiative, LLV and Spiral Ventures remain committed to supporting the growth of highly competitive startups and building a borderless innovation ecosystem where Japan and Southeast Asia can collaborate to address industry challenges, accelerate growth, and unlock new economic opportunities.
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October 2, 2026
BSD City, September 18, 2026 – OneSmile, an integrated smart city community app developed by Sinar Mas Land, has received the Private Sector Innovation/Corporate Smart Initiative/Commercial Solution Provider award at the IN-Apps 2026 Digital Application Award.
The award was presented directly by the Minister of Creative Economy/Head of the Creative Economy Agency of the Republic of Indonesia, Teuku Riefky Harsya, and received by Yohanes Zega, Chief Executive Officer of OneSmile, on September 14, 2026, at Nusantara Hall, ICE BSD City. The recognition was given for OneSmile’s digital initiative in delivering technology-based solutions to improve service quality, efficiency, and connectivity, while creating added value for the community and supporting the development of Indonesia’s national digital ecosystem.
The IN-Apps 2026 Digital Application Award was organized by the Ministry of Creative Economy/Creative Economy Agency of the Republic of Indonesia (Kemenekraf/Bekraf RI) as an appreciation of innovation and the contribution of digital applications toward strengthening the national application ecosystem. A total of 13 award categories were assessed based on six aspects through a curation process conducted by five professional judges representing the government, industry, and academia. At the event, OneSmile was recognized alongside several other national companies and digital platforms, including BCA Mobile, Shopee, Kompas.com, and GoPay. The award ceremony was part of the Indonesia Apps Summit (IN-Apps) 2026, themed “Application as the New Engine of Growth,” and was one of the events leading up to the World Conference on Creative Economy (WCCE) 2026.
Teuku Riefky Harsya, Minister of Creative Economy/Head of the Creative Economy Agency of the Republic of Indonesia, said, “This award is a tribute to innovators who have delivered digital solutions that provide tangible benefits to society while inspiring the creation of further innovations. This is in line with the application subsector, which in 2025 became the largest contributor to investment, amounting to IDR 54.18 trillion out of total creative economy investment of IDR 183.01 trillion, while exports reached USD 31.94 billion. Our success will be measured by the growing number of Indonesian applications that are able to develop, compete, and make their mark on the global stage. We hope that IN-Apps 2026 will mark the beginning of more meaningful and tangible collaborations, both with national and international partners.”
Yohanes Zega, Chief Executive Officer of OneSmile, said, “This achievement is both an appreciation and recognition of Sinar Mas Land’s efforts to leverage technology in delivering digital services that provide tangible benefits to the community. Through OneSmile, we integrate various services for residents, businesses, visitors, and township management into a single platform that supports everyday activities. For us, the success of OneSmile is measured not only by the number of users, but also by how effectively the available services help address residents’ needs more quickly and efficiently. We remain committed to continuously developing OneSmile so that it can make a greater contribution to driving the growth and strengthening of Indonesia’s digital application ecosystem.”
Since its launch in 2021, OneSmile has been implemented in two township developments by Sinar Mas Land, namely BSD City and Grand City Balikpapan, with more than 100,000 users. As a community app, OneSmile integrates various township services into a single application, ranging from billing information and payments for Environmental Maintenance Fees (Iuran Pemeliharaan Lingkungan/ IPL) and water, to community forums, a points-based loyalty program redeemable at various merchants, and a marketing channel for MSMEs. To accelerate access to information, OneSmile also offers Tanya OSA, an artificial intelligence (AI)-powered chatbot that enables users to access information about the township more quickly and interactively.
OneSmile also offers a number of features designed for both residents and the general public. Through Facility Booking, users can book various facilities, including clubhouses, sport clubs, and educational tourism destinations. Meanwhile, the Loyalty feature provides points and vouchers that can be used to redeem food and beverage products and entertainment from participating merchants. For BSD City residents, the BSD Link feature provides schedules and information on free public transportation services, while the CCTV feature allows users to monitor road conditions at several points throughout the area. Various information about BSD City is also available through the Berita BSD, Event BSD, Jelajah BSD, and Satu BSD features. (*)
About Sinar Mas Land
Sinar Mas Land is a property developer in Indonesia with more than 50 years of experience. Sinar Mas Land has developed more than 50 projects across Indonesia, the United Kingdom, and Singapore. Its success in developing property and real estate in Indonesia has also been recognized by independent and credible institutions through various prestigious international awards, including the MIPIM Awards in France (2018), ASEAN Energy Awards (2019 & 2023), Asia Pacific Property Award (2021 & 2023), Cambridge IFA’s Global Good Governance Awards (2021 & 2023), FIABCI World Prix d’Excellence Awards (2022), Asian Experience Awards (2025), Hubexo Asia Awards (2025), PropertyGuru Asia Property Awards (2021–2025), EdgeProp Awards (2025), and MIPIM Asia Awards (2025).
Sinar Mas Land is known as a township or integrated city developer through a number of projects, including BSD City (Greater Tangerang), Kota Wisata & Legenda Wisata (Cibubur), Grand Wisata (Bekasi), Rancamaya Golf Estate, Royal Tajur, Harvest City, and R Hotel (Bogor), Grand City Balikpapan and Balikpapan Baru (Balikpapan), Nuvasa Bay (Batam), as well as Wisata Bukit Mas and Klaska Residence (Surabaya). In Jakarta, Sinar Mas Land also develops various apartment projects, including Aerium Residence, Southgate Residence, and The Elements. In addition, Sinar Mas Land and Sojitz Corporation jointly develop Kota Deltamas, an industrial estate located in Cikarang, Bekasi. The company also develops Karawang International Industrial City (KIIC) together with ITOCHU Corporation.
Beyond residential and commercial developments, Sinar Mas Land is also developing the 60-hectare D-HUB SEZ in BSD City, the only Special Economic Zone in the Greater Jakarta area, focusing on education, healthcare, technology, and the creative economy. Sinar Mas Land also develops Digital Hub, a business enabler ecosystem and Sinar Mas Land’s innovation center that connects startups, multinational corporations, and players in the technology, healthcare, and education sectors across Sinar Mas Land’s projects in Indonesia.
Sinar Mas Land is listed on the Indonesia Stock Exchange through four entities, namely PT Bumi Serpong Damai Tbk (BSDE), PT Puradelta Lestari Tbk (DMAS), PT Duta Pertiwi Tbk (DUTI), and PT Suryamas Dutamakmur Tbk (SMDM). Sinar Mas Land has strong strategic partners, including Sojitz Japan, Aeon, Itochu, Mitsubishi Corporation, Hongkong Land, Hankyu Hansin Property, and Sumitomo Forestry, as well as local partners such as Kompas Gramedia, Kawan Lama Group, Duta Putra Land, Astra Land Indonesia, and Kalbe. For more information, please visit www.sinarmasland.com.
For further information, please contact:
Atikah Sunarya
Vice President of Corporate Communications
Sinar Mas Land
Tel: 021-50368368

October 2, 2026
BSD City, 26 September 2026 – Living Lab Ventures (LLV) hosted a working visit by Ambassador of Japan to ASEAN, H.E. Mr. Yonetani Koji, at the Biomedical Campus, KEK ETKI Banten, BSD City, on Monday, 21 September 2026. The visit provided an opportunity to strengthen strategic dialogue on business opportunities, business expansion, and innovation collaboration between Japan and ASEAN, particularly Indonesia. During the meeting, the two sides exchanged views on Japan–ASEAN economic relations, including cross-border investment, market access, startup expansion, corporate collaboration, and opportunities to strengthen connectivity between the business and innovation ecosystems in Japan and Southeast Asia.
As an ASEAN-based corporate venture capital and fund management platform, LLV builds connections across global ecosystems, including Japan. The meeting also highlighted the role of the Japan Thematic Fund (JTF), an initiative established by LLV in partnership with Spiral Ventures to strengthen investment and business opportunities between Japan and Southeast Asia, with Indonesia as one of its key markets. Through JTF, Japanese startups and companies gain access that extends beyond funding, providing local market insights, strategic partners, business networks, and go-to-market opportunities to navigate, enter, and scale across ASEAN markets.
Bayu Seto, Partner at Living Lab Ventures, explained, “Japan and Southeast Asia have built strong economic ties over several decades. This relationship provides an important foundation for further collaboration among startups, corporations, investors, and businesses across Japan and Southeast Asia. As the ASEAN economy becomes increasingly integrated, we see the importance of strengthening the connection between international capital and growth opportunities across Southeast Asia. This not only serves as a catalyst for investment, but also creates broader opportunities for companies to access technology, innovation, expertise, and markets across ASEAN. LLV seeks to connect global capital, businesses, and innovation with high-potential investment and growth opportunities in Southeast Asia.”
For companies pursuing cross-border expansion, funding is one part of the process. Understanding local market dynamics, finding the right partners, navigating the business environment, and accessing regional networks remain vital to achieving sustainable growth. Through this approach, LLV combines investment with strategic collaboration to help companies understand new markets and gain access to market-entry opportunities, partnerships, and business development across the region. LLV’s cross-border network also connects companies with stakeholders and opportunities that can support their business expansion.
Based in Indonesia, LLV is supported by an integrated ecosystem in BSD City that enables startups, corporations, investors, and technology partners to interact and explore the application of innovative solutions in the Indonesian market. This approach allows companies to gain first-hand insights into the market and develop solutions suited to local needs before moving on to validation, commercial partnerships, and regional expansion. (*)
About Living Lab Ventures
Living Lab Ventures (LLV) is Sinar Mas Land's corporate venture capital for the agnostic sector in Southeast Asia. The company provides funding, expertise, services, support and an ecosystem focused on entrepreneurs in building companies to the global arena. LLV facilitates startups in a sustainable manner through three main pillars, namely Investment, Advisory & Market Access, and Global Partnership.
As a catalyst for urban transformation in Indonesia, LLV's mission is to drive economic growth, accelerate digital transformation, and expand global reach. LLV is committed to creating a sustainable ecosystem where businesses can grow and the industrial sector continues to grow.
Positioning itself as Indonesia's gateway for global companies, LLV is strategically located in BSD City, a dynamic area full of opportunities. LLV helps global companies expand into Indonesia through innovative approaches and tangible implementation of its ecosystem. By leveraging BSD City's strategic assets and extensive network, LLV has made the area a premier destination for global businesses. This transformation boosts the economy, attracts more visitors, creates jobs, and makes BSD City aleading international hub.
In contrast to companies Venture Capital Traditionally, LLV offers more than just financial investments, and invests in globally minded businesses, fostering high-impact companies with broad expertise and ecosystem. By supporting a diverse portfolio in the fields of technology, healthcare, and Renewable Energy, LLV ensures sustainable economic value and positions Indonesia as the next global enterprise hub. For more information, visit http://livinglab.ventures/.
For more information contact:
Quinta Binar Resista
Head of Public Relations Living Lab Ventures
Tel : 021- 50 368 368
E-mail : [email protected]

September 22, 2026
As public demand for services that are easy, fast, practical, and integrated continues to increase, the use of technology has become an important part of creating an increasingly comfortable living experience. In response to this need, Sinar Mas Land, through Grand City Balikpapan, continues to strengthen the development of the area as a smart township that integrates technology into various aspects of everyday life.
One of these efforts is realized through the implementation of the OneSmile application, a digital platform that makes it easier for residents to access information and various needs within the area more practically through a single application.
Since July 2026, OneSmile has been implemented at Grand City Balikpapan as part of an effort to provide residents with easier and more integrated area services. At the initial stage, OneSmile provides information on water bills and Environmental Maintenance Fees (Iuran Pemeliharaan Lingkungan/IPL), allowing residents to view billing details and monitor their payment history digitally.
As an integrated smartphone application, OneSmile is also equipped with a customer care feature that serves as a channel for residents to obtain services and information related to their needs within the area.
Franky Najoan, CEO of East Indonesia Sinar Mas Land, said, “Digital transformation is an important part of the development of Grand City Balikpapan as a modern residential area. Through the use of technology, we aim to provide services that are more accessible, efficient, and offer added value for all residents. The implementation of OneSmile is one concrete step toward achieving this, while also supporting our efforts to create an increasingly comfortable living experience.
“This digitalization of services is also expected to create more effective communication between the area management and residents, allowing service needs to be handled more practically and responsively, while supporting the vision of developing a smart township with a one-stop living concept at Grand City Balikpapan.”
Yohanes Zega, CEO of OneSmile, stated, “After being successfully introduced in BSD City in 2021, OneSmile has continued to develop in supporting community needs through integrated digital services. This experience has become the foundation for us to expand the use of OneSmile to Grand City Balikpapan. The presence of OneSmile makes it easier for residents to access various information and services, ranging from the latest news about Balikpapan to special promotions from merchants.
“OneSmile will also soon be integrated with the clubhouse facilities and introduce various features tailored to residents’ needs. Going forward, we hope OneSmile can continue to serve as a digital partner for the community while supporting the transformation of other self-contained cities developed by Sinar Mas Land.”
Built on an area of more than 250 hectares, Grand City Balikpapan is developed by Sinar Mas Land as the first and largest township development in East Kalimantan. Currently, Grand City Balikpapan has developed 11 residential clusters, with a total of approximately 1,500 residential units that are home to nearly 2,000 residents.
The presence of this area also supports the growth of Balikpapan as one of the major cities in East Kalimantan, with facilities that support various community needs. As East Kalimantan becomes increasingly strategic in national development and the development of the Nusantara Capital (IKN), Balikpapan’s position as a center of activity and connectivity in the region also creates opportunities for the growth of residential areas and the need for increasingly integrated living environments.
To date, Sinar Mas Land continues to encourage digital transformation across all township development projects in Indonesia to provide services and products that are increasingly relevant to the community. This effort is realized through the development of technology-based infrastructure and services, ranging from the provision of fiber-optic networks and traffic monitoring through a traffic command center, to improved mobility through integrated public transportation facilities.
This development is further strengthened by integrated digital platforms such as OneSmile, which provide communities with easier access to various information and area services through a single platform.

