MPower Partners announces its investment in Rukita

March 5th, 2024; Tokyo, Japan: MPower Partners Fund, Japan’s first ESG-focused global
venture capital fund, has invested in Rukita (operating in Jakarta, Indonesia; co-founders
Sabrina Soewatdy and Sarah Soewatdy), a proptech (property technology) startup that engages
in building a tech-enabled end-to-end solution for long-term rental properties in Indonesia.
Along with the massive migration to Jakarta in the past half century, Indonesia has experienced
a rapid demographic growth and urbanization that drives demand for housing across the country
in both the quantity and quality of housing stock. Whilst it has seen a huge ramp up in thehousing stock during the past few decades, most housing developments within major cities areeither luxury apartments for higher income individuals, or subsidized budget lodging forlower-income classes. There is a huge shortage of affordable quality housing in city centers forthe middle-income, younger generation.
Rukita’s business focus originated from Kost (co-living properties), which is deemed to be agood market to disrupt the affordable housing space with an annual rental market value of
US$14B targeting millennials and GenZ in Indonesia. In addition to its main co-living product,
student housing, apartments and serviced residences are also now part of the product offerings.
Rukita functions as a bridge between landlords and tenants: a revenue and property manager
for landlords, as well as a provider of convenient and well-maintained properties for tenants.
Despite the challenging tech industry, Rukita has outperformed expectations in 2023, hadachieved a remarkable 2x growth of increase in properties, reaching 600+ locations, as well asa decent growth in room count. This expansion reflects the company's commitment to providing
quality and affordable housing solutions, particularly for the younger generation in Indonesia.
Its ecosystem, comprising Rukita Coliving, RuPartner, Rukita Residence, Infokost.id, and its
financial product for landlords RuFinance, has seen a YoY 25% increase in properties, now
numbering over 50,000. This growth extends to more than 1.4 million rooms and a collaboration
with over 50,000 property landlords. Today, Rukita's footprint spans 157 locations across 15
major cities, including Jakarta, Bali, and Surabaya, demonstrating its commitment to addressing
the housing needs of young urbanites in Indonesia.
MPower Partners and PEAK XV are co-leading this series B in Rukita, which marks MPowerPartners’s very first investment into the South East Asia market. It aligns perfectly with thefund’s vision of integrating ESG principles into the core strategies of burgeoning startups. With

the founding team's vast expertise in business operations and the local real estate industry, weare excited to partner with Rukita in their mission to provide affordable, quality housing toIndonesia’s next generation. We look forward to supporting the company’s further value
creation, both in terms of financial returns and societal impact, together with other co-investors
including but not limited to Golden Gate Ventures, Open Space Ventures and BNI Ventures.
Comment(s) from Rukita’s founding team
“We are excited for our partnership with MPower of Japan, a significant step forward in realizing
Rukita’s mission to address Indonesia’s housing crisis. Together, we are committed to making
quality housing accessible for the emerging generation in Indonesia and Southeast Asia. Thiscollaboration strengthens Rukita’s dedication to our ESG roadmap, ensuring that our businessgrowth is synonymous with a positive impact on society, reinforcing our commitment tosustainability and inclusive solution,” said Sabrina Soewatdy, Founder and CEO of Rukita.

About Rukita
Established by Sabrina and Sarah Soewatdy in 2019, Rukita provides an end-to-end solution for
long-term rental properties in Indonesia. Rukita’s product offerings span property management,property marketing, a property marketplace, and a financing solution for landlords.

For more information please visit the homepage: https://www.rukita.co/
About MPower Partners
MPower Partners Fund is Japan’s first ESG-integrated global venture capital fund that aims tosupport entrepreneurs providing solutions to societal challenges through the power oftechnology, and to promote sustainable growth by incorporating ESG (Environment, Social,Governance) into their core business strategies. The founding team draws on their extensive
experience in the financial industry and ESG matters to support the global expansion of startups
and strives to infuse ESG elements into the ecosystem.
Fund website: https://www.mpower-partners.com
For inquiries, please contact: info@mpower-partners.com
This press release has been prepared for the purpose of providing information to qualified
institutional investors and potential portfolio companies of the Fund, and is not a disclosure
document pursuant to the Financial Instruments and Exchange Act, and does not constitute a
solicitation or recommendation to purchase the Fund.