Kopi Kenangan co-founder and Group CEO Edward Tirtanata, along with existing investors Alpha JWC Ventures, Tybourne Capital Management and Horizons Ventures, increased their stakes in the Jakarta-based coffee chain as part of an ongoing funding round reported on September 24, 2026. The transaction gives early employees and shareholders a route to liquidity while the company expands regionally after reporting its first full year of profitability.
Key Facts At A Glance
- Edward Tirtanata, co-founder and Group CEO of Kopi Kenangan, increased his stake through purchases from early team members and shareholders.
- Existing investors Alpha JWC Ventures, Tybourne Capital Management and Horizons Ventures also raised their holdings.
- The transaction is expected to include secondary share sales of up to US$70 million.
- According to Alpha JWC, revenue grew 62% year on year in the first half of 2026 and EBITDA rose 86% in the second quarter.
- The company reported 2025 net income of US17milliononnetsalesofUS184 million, its first profitable year.
- Round size, valuation and resulting ownership percentages have not been publicly disclosed.
Kopi Kenangan co-founder and CEO Edward Tirtanata is increasing his shareholding in the Southeast Asian coffee chain alongside existing investors, as part of an ongoing capital-raising round. The transaction is expected to include secondary share sales of up to US$70 million. The company operates under PT Bumi Berkah Boga, the entity that holds the Kopi Kenangan brand.
Tirtanata’s investment includes buying shares from early team members and shareholders. Existing investors Alpha JWC Ventures, Tybourne Capital Management and Horizons Ventures also increased their stakes, and institutional investors have expressed interest in the broader round.
Tirtanata said many staff members had joined when the business had eight stores in Jakarta, and that they had “earned the right to turn some of what they built into real liquidity.”
Publicly available information on the transaction remains limited. The total size of the round, the valuation applied, the price per share and the resulting ownership percentages have not been disclosed in the reporting reviewed.
Financial Performance
Citing Alpha JWC, Inside Retail Asia reported that Kopi Kenangan’s revenue grew 62% year on year in the first half of 2026, and that EBITDA rose 86% in the second quarter. Alpha JWC, which has backed the company since its early years, said it was increasing its exposure as Kopi Kenangan enters its next phase of growth.
For full-year 2025, the company recorded net income of USD 17 million, about Rp 290 billion, which Tirtanata described as its first year of profitability. Net sales rose 45% to USD 184 million from USD 127 million in 2024, and EBITDA grew to USD 37 million.
Regional Footprint
Founded in 2017, Kopi Kenangan has built its brand around affordable grab-and-go coffee made with Indonesian beans and palm sugar. The company reached profitability in Malaysia three years after entering that market and opened its first store in Taiwan in April.