Bernardus Billy

Billy heads the Firm’s Fintech, Startup, and Venture capital group, and is also recognized for his expertise in handling matters in connection with both domestic and international capital market transactions, mergers and acquisitions, foreign investments, and project financing for domestic and international clients.

Bernardus Billy started as a Senior Associate at Makes and Partners Law Firm in 2012 and was appointed Partner in 2017, making him the youngest partner at the Firm. Billy’s strong leadership in Makes & Partners’ Fintech practice has been exemplified in his key involvement in various deals including well known clients such as PT Ajaib Teknologi Indonesia, the 7th unicorn in Indonesia and the first fintech unicorn in Southeast Asia and several cryptocurrency exchange companies.

Billy also handles most of the global bond transactions at Makes (both 144a and/or RegS deals) and has broad knowledge in this sector. He has represented both issuers and underwriters in the global bond transactions, such as Lippo Karawaci, Agung Podomoro, Soechi Lines, Jababeka, Tunas Baru Lampung and Golden Energy and Resources Ltd. from the issuer’s side and Citigroup, UBS and Credit Suisse from the underwriter’s side, to name a few.

Billy has been appointed as a member of the Ethical Board of the Financial Services Authority (OJK) recognized AFTECH (Indonesian Fintech Association of Indonesia) for 2021-2025.

Billy possesses a strong legal and commercial grip on every step of the transaction and the underlying commercial sensitivities, which help him render effective advice. Billy is lauded by his clients for his deep understanding of the law and for his ability to “analyze and break down complex business/legal issues, and bring a comprehensive and solution-oriented mindset to the table”.

Billy has been recognized with numerous awards that include, among others; (i)Ranked Lawyer in Capital Market by Chambers and Partners (2023); (ii) Up and Coming Lawyer for Capital Markets in Indonesia by Chambers and Partners Asia Pacific (2023); (iii)Next Generation Partner by Legal 500 (2023)(iv) Notable Practitioner by Asialaw (2023) (v) Recognized as one of the Dealmakers in South East Asia by ALB (2022); (vii) Leading Lawyer by IFLR1000 (2022);(vii) Dealmaker of the Year for the ALB Indonesia Law Awards 2022(viii) Next Generation Partner by Legal 500 (2022).

• Billy assisted PT Kawasan Industri Jababeka Tb (KIJA) for an exchange offer transaction of 6.50% Notes Due 2023 (Reg S/144a) and consent solicitation exercise by KIJA as the Issuer. This transaction was shortlisted as high yield deal of the year at the IFLR South East Awards 2023.
• Billy represented Ajaib, in connection with its acquisition of certain shares in PT Bank Bumi Arta Tbk (BNBA).
• Billy represented PT First Media Tbk and Asia Link Dewa Pte. Ltd, the two largest shareholders of PT Link Net Tbk (one of Indonesia’s biggest cable TV operators and fixed broadband internet provider), in the sale of their shares to the Axiata Group, a giant Malaysian multinational telecommunications conglomerate.
•  Billy advised Tiket.com in its acquisition of Djarum Group (Blibli).
• Billy advised Expedia, a world leading hotel reservation, in the entry to Traveloka.
• Billy represented WeWork Companies Inc. in its acquisition of Spacemob Pte. Ltd.
• Billy represented Kravis Roberts & Co. L.P. in its investment in Privy, a leading startup offering e-signature services in Indonesia, for its Series C funding.
• Billy advised Boston Consulting Group (“BCG”), a prominent global consulting firm, in connection with their services in developing BCG Client’s investment application businesses, which include facilitating crypto transactions, in-app money transfers, and sale of global stocks products to the customers.
• Billy along with his team advising on the mega acquisition of 94.03% shares in PT Solusi Tunas Pratama Tbk. (“STP”) by PT Profesional Telekomunikasi Indonesia (“Protelindo”) (the largest independent tower operator in Indonesia that offers passive infrastructure services to telecommunication companies, and owns and operates more than 28,000 towers and nearly 53,000 tenants) from certain sellers through a rigorous bidding process. Since STP is a public listed company and Protelindo is a subsidiary of a public listed company, Billy along with his team had to be vigilant and analyse a number of risks and develop strategies to fulfill the capital market requirements and solve all the potential issues.
• Billy led Makes team in representing PT Fliptech Lentera Inspirasi Pertiwi ("Flip") in its fundraising round for Series B-1 share in securing three giant potential multi-national investors, originating from Singapore, China, and the United States. The client is a widely-recognized financial technology application that has gained the trust of more than six million users in Indonesia and has processed transactions worth trillions of Rupiah every month.
• Billy led the Makes team in advising PT Gajah Tunggal Tbk., the largest integrated tire manufacturer in Southeast Asia which owns and has been operating a tire manufacturing facility in Indonesia since 1951, on the issuance of Senior Secured Notes due 2026. The Makes team under the supervision of Billy assisted the client in coming up with an efficient strategy to refinance the previous notes, while preparing for the issuance of the new ones.

• Capital markets
• Corporate and M&A

• Banking and financial services
• Technology and telecommunications
• Real estate

• Indonesian Bar Association (PERADI).
• Ethical Board of the Financial Services Authority (OJK) recognized AFTECH (Indonesian Fintech Association of Indonesia) for 2021-2025.

• Bachelor of Law Degree, Parahyangan Catholic University