Cakap has been featured in ESG Casebook by the Singapore Venture & Private Capital Association (SVCA) 2022 in a case study of Heritas Capital’s impact investment. The article titled “Leveraging technology and innovation to increase access to education”.
Founded and led by Tomy Yunus, Cakap is an e-learning platform that aims to improve people’s livelihoods in Indonesia through skill enhancement. Cakap provides language learning and vocational training through a dedicated platform that connects learners with experts and allows them to learn whenever and wherever they choose.
Cakap has effectively used technology to provide a better learning experience for language learning as well as vocational training. Cakap’s language learning is conducted in the live session, with students able to speak directly with the teacher through the online platform. Meanwhile, Cakap’s vocational training is offered through recorded video, allowing students to learn at their own pace.
The implementation of e-learning at Cakap has had a positive impact on employment. According to a survey held by the company, 78% of adult students believe they have better career opportunities after learning at Cakap. Furthermore, 55% of business owners believe that learning at Cakap helps them enhance their profits.
Besides effectively providing e-learning solutions to over 2.7 million students in Indonesia, Cakap also contributes to improving education quality by empowering thousands of local and foreign teachers through the Cakap Teacher Academy.
Cakap also supports the government’s efforts to revitalize the economy in the aftermath of the pandemic, particularly among small and medium-sized businesses (SMEs). Only 17 million of Indonesia’s 64 million SMEs have benefited from digitalization. This fact also inspires Cakap to continue supporting digital transformation through the upskilling programs that are available.
By leading Cakap’s funding during the pandemic, Heritas Capital’s Venture has made an impact in increasing access to quality education in Indonesia. Along with healthcare and technology, education is a priority of Heritas Capital’s Venture investment.
The ESG Casebook by SVCA is a case study on Sustainability and Impact Investing, particularly in environmental, social, and governance (ESG). The Singapore Venture & Private Capital Association (SVCA) was formed in 1992 to promote the development of the venture capital (VC) and private equity (PE) industries.
Read the full version of ESG Casebook by SVCA here.