This paper tries to explain the phenomenon of the latest political party model development in Indonesia. During this time, the study of the party model is often based on social cleavage and electoral orientation. But, ahead of the 2019 election, there emerges a new Perindo party whose the root of formation is different from the previous parties. Based on the research result, Perindo party is a new type of political party in Indonesia that can be categorized as a business party. By using framework developed by Krouwel, there are at least four characters of Perindo party as the first business party in Indonesia. First, the Perindo Party was established from a business network in an economic society and did not originate from a fraction of a political party previously existing in Parliament. In addition, the formation of the party is annealed and funded by a group of elites, not rooted from the grassroots. Second, candidate recruitment patterns tend to be open, and the range of electoral appeal tends to be broad with low party-id bonds. Third, policy strategies tend to be flexible and more oriented to the public office rather than the interests of the representative. Fourth, internal organization management tends to be professional and modern, although it is controlled hierarchically and centrally by party leaders.