New Law Requires All VC Associates to Wear T-Shirts Saying “Not an Actual Investor”
Indonesia now requires VC associates under 30 to wear T-shirts saying “Not an Actual Investor” to curb confusion in the startup scene.
JAKARTA — Indonesia has enacted new legislation requiring all venture capital (VC) associates under the age of 30 to wear bright orange T-shirts emblazoned with the words: “NOT AN ACTUAL INVESTOR.”
The law, passed unanimously, comes in response to a recent epidemic of junior VC staff listing themselves as investors in startups, despite not having contributed a single rupiah of personal capital.
“This isn’t about shaming anyone,” said spokesperson Damar Prasetyo. “We just believe it’s important that startup founders, the media, and the general public can clearly distinguish between actual capital allocators and people who once summarized a memo from the senior partner.”
The legislation comes after a government-commissioned task force discovered that nearly 87% of Indonesian VC associates had self-identified as “investors” on at least two platforms, despite having no authority to write checks, make decisions, or understanding how liquidation preferences work.
“The situation had become untenable,” said lead researcher and national sociologist Dini Aprillia. “One founder told us he accidentally offered 3% equity to a “VC investor” who turned out to have been hired 3 weeks earlier to manage a Mailchimp newsletter.”
The “Investor Epidemic,” as it has been dubbed on local startup forums, had even spread beyond the capital. In Bandung, a 22-year-old economics graduate was found conducting founder office hours at a café, and introducing himself as “early money.”
Starting March 2026, VC firms will be required to distribute the standardized uniforms to all associates, analysts, interns, and anyone whose net worth can be rounded down to zero. The T-shirts are to be worn during all startup events, demo days, pitch meetings, and coworking brunches.
Not everyone was supportive.
“It’s oppressive,” said Ayu Wirawan, HR manager at Palapa Capital. “How are our associates supposed to get featured in Tech In Asia’s 30 Under 30 if they have to admit they aren’t investors? That t-shirt ruins the aesthetic of our corporate retreat photos.”
According to reports, non-compliance will result in escalating penalties, including:
Public correction by a more senior investor,
A mandatory LinkedIn post admitting you “aren’t really an investor, but hope to be one day,”
And, for repeat offenders, being reassigned to ESG deal flow.
Although the regulation is currently unique to Indonesia, several nations are reportedly watching closely.
A leaked EU draft suggests that junior staff at Paris-based VC firms may soon be required to wear berets embroidered with “Je suis analyste, pas investisseur.” Meanwhile, Silicon Valley is rumored to be developing a wristband that glows red whenever a 22-year-old lists themselves as “Investor” on Twitter.
Whether this movement spreads or not, one thing is clear: in the world of venture capital, clout inflation is finally meeting policy deflation.
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