Ideas Capital Management

Ideas Capital Management (ICM) approaches private equity with a defined investment discipline that does not operate under a pure return-maximization model. The firm targets a 23 percent internal rate of return (IRR) and applies financial engineering where appropriate, but opts for a more balanced approach to investments by allocating capital toward environmental and community initiatives as part of its deal structuring, while maintaining its required return threshold.

“We believe long-term performance in Southeast Asia depends on disciplined governance, cost control and stakeholder alignment, so we evaluate opportunities based on whether they can deliver positive impact while generating return above our required hurdle rate,” says Stevanus Juanda, principal and chief investment officer.

ICM structures its investments with the understanding that many project owners and strategic investors remain committed to the businesses well beyond a fund’s lifecycle. In select cases, the firm itself continues as a shareholder even after fund exits, remaining aligned with management teams that also stay invested over the long term.

Rather than focusing solely on exit, ICM prioritizes strong knowledge of ESG investing, cost discipline and execution oversight. Ongoing engagement alongside operators serves as a governance mechanism, supporting risk management and performance consistency, particularly in markets where long-term outcomes depend on sustained stakeholder participation.

Accepting Measured Trade-Offs While Maintaining Return Thresholds

ICM is clear that allocating capital to environmental and community considerations can influence an investment’s return profile. A project that might otherwise underwrite to a 30 percent IRR may deliver closer to 25 percent once capital is allocated toward environmental initiatives or community participation.

The company is willing to make a slight trade-off between profitability and social benefit, as long as overall profitability remains above our required hurdle rate. The ESG benefits could include saving 150,000 lives, teaching 10,000 students and benefiting 12,000 people in rural communities.

Planned Project Illustrating Investment Structuring Approach

A planned sugar plantation project illustrates how Ideas Capital Management approaches investment structuring when environmental and community considerations are part of the capital allocation decision.

The project is in the final planning stage and is ready to receive investment. As part of the proposed structure, ICM intends to allocate additional capital to acquire conservation land on a scale larger than the plantation footprint. The objective of this allocation is to protect biodiversity, support groundwater preservation and reduce land erosion associated with agricultural use.

Environmental planning for the project also includes the use of industrial-grade electrostatic precipitators to significantly reduce air emissions to less than one percent while generating huge carbon benefits, along with closed-loop water treatment and recycling systems to eliminate water discharge to achieve “Zero Liquid Discharge.” Material planning focuses on using highly compostable inputs and a planned transition away from conventional plastic packaging toward paper-based or biodegradable alternatives where feasible.

Community participation is incorporated directly into the proposed ownership structure as well. ICM plans to finance a 30 percent ownership stake in the plantation for nearby communities, positioning local stakeholders as long-term participants in the business rather than external beneficiaries. The firm views this structure as a way to support project stability and alignment over time.

Scaling through Knowledge, Creativity and Compassion

ICM is currently in the fundraising phase and views its planning and investment methodology as sound. Its approach is shaped by strong knowledge of ESG investment frameworks, creativity in structuring projects to meet return thresholds, and compassion informed by the realities faced by underprivileged communities across Southeast Asia.

Operating in markets such as Indonesia, the Philippines, Cambodia, Laos, Vietnam, and Myanmar, ICM believes that committing capital thoughtfully and accepting measured risk can support scalable, profitable projects that benefit both investors and local stakeholders.

By maintaining a disciplined approach to capital allocation that balances return thresholds, governance rigor, and responsible execution, ICM continues to build investments designed for long-term performance, a discipline that underpins its recognition as Top Private Equity Firm 2026 in the APAC region.