We help you navigate complex corporate finance challenges
Restructurings, capital raisings, and the road to and beyond IPO — for Indonesia's listed companies and founder-led groups.
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Lux Alvest Capital is a Jakarta-based boutique advisory and proprietary investment firm.
We advise business owners, entrepreneurs, and companies on mergers & acquisitions, capital raisings, restructurings, and pre- and post-IPO mandates. Alongside our advisory practice, we invest our own capital in businesses and opportunities where we believe we can contribute to long-term value creation.
This dual perspective shapes how we work. We approach every mandate not only as an adviser, but with the discipline of an owner — asking whether the decisions we recommend can create durable value for the people who built, operate, and own the business.
Rooted in Indonesia, we believe capital should do more than complete transactions. It should help good businesses grow, create opportunity, and contribute to a more prosperous Indonesia.
Along every stage of the transaction lifecycle.
From the decision to transact, to the structure, the numbers, and the negotiation in between.
Deal Strategy
We help owners decide whether, when, and what to transact — M&A strategy, commercial due diligence, and project feasibility studies grounded in first principles.
Corporate Finance
We structure and execute capital events: capital restructurings, IPO and capital raising, and private equity transactions — from mandate to close.
Transaction Services
We run the transaction machinery — structuring, financial and tax due diligence, and sale & purchase agreement review — so surprises surface before signing, not after.
Business Valuations
We build the number the negotiation stands on: business and share valuations, and the valuation models behind them.
One firm at the center of the mandate — strategy, capital, execution, and value under a single standard of rigor.
A record measured in completed mandates.
Including advisory to three IDX-listed companies — DGNS, ZYRX, and DGWG.
Healthcare
Capital restructuring via rights issue and mandatory convertible bond; acquisition of three hospitals; pre-IPO advisory.
IDX: DGNS · Healthcare
Corporate restructuring, pre- & post-IPO advisory, and investor relations for a listed clinical laboratory network.
IDX: DGWG
IPO structure advisory and post-IPO advisory for Delta Giri Wacana.
IDX: ZYRX · Technology
Post-IPO advisory for one of Indonesia's homegrown computer and technology manufacturers.
Logistics
Corporate restructuring and pre- & post-IPO advisory across the group's trucking and logistics companies.
Private Group
Equity transaction advisory.
Agri-biotech
Fundraising partner and venture partner to a biotech-enabled cattle genetics platform.
Where we have put our capital
Tech-enabled waste management — collection, segregation, treatment, and recycling infrastructure for Indonesian cities.
Modular hospitality operator — Bobocabin and Bobopod — consistently outperforming industry occupancy benchmarks.
Clinical weight-management clinics; the category pioneer in Indonesia, built on a clinical standard of care.
Fully automated, international-standard laundry operations serving major hospitality players.
Indonesia's first producer and distributor of insect-protein pet food.
Biotech cattle breeding — embryo transfer and genomic selection to lift yield and quality across the Indonesian herd.
Selected holdings across fund and principal vehicles. Portfolio composition changes over time.
Principals & advisors.
Gene RichardCo-Founder & CEO
Investor for more than a decade. Former PwC strategy consultant and corporate finance lead across multiple Indonesian healthcare companies.
LinkedIn →
Fergus RichardCo-Founder & CFO
Operational and corporate finance leadership across listed and private companies in Indonesia, both national and multinational.
LinkedIn →
Timothy William TjiaChief Investment Officer
Portfolio management across multiple industries at one of Indonesia's largest private equity and conglomerate groups.
LinkedIn →Investment Committee — Board of Advisors
Dr. dr. Ivan Rizal Sini, SpOGMD, FRANZCOG, GDRM, MMIS
A pioneer of Indonesia's IVF industry and among the country's most respected obstetrics & gynecology physicians, with healthcare business interests extending into biotech and agritech.
Ir. Mesha Rizal Sini, S.H., M.Eng.Investor & Businessman
Business builder with exposure across mining, healthcare, real estate & property, construction, and consumer sectors.
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Mandates begin with a candid conversation — of the situation as it is, not as the deck presents it.
Email the principals