JAKARTA - GoTo Group, Indonesia's largest digital ecosystem, signed an agreement with a subsidiary of Abu Dhabi Investment Authority (ADIA), which made ADIA lead GoTo's pre-IPO fundraising with an investment of USD 400 million.
The transaction is the first investment by ADIA's Private Equities Department into a Southeast Asian technology company, and also the largest investment in Indonesia. ADIA will be the latest investor to enter the list of global investors in GoTo today, following Alibaba Group, Astra International, Facebook, Global Digital Niaga (GDN), Google, KKR, PayPal, Sequoia Capital India, SoftBank Vision Fund 1, Telkomsel, Temasek, Tencent and Warburg Pincus
Andre Soelistyo, CEO of GoTo Group, said: “We are proud to welcome ADIA as the newest investor in the company and the first in our pre-IPO fundraising, as we prepare the business for exponential growth for years to come. Support of this scale underscores our belief that Indonesia and Southeast Asia will be the next big destinations for technology investment.”
The services provided by GoTo include on-demand transportation, e-commerce, delivery of food and daily necessities, logistics and warehousing, and financial services. GoTo Group generated more than 1.8 billion transactions in 2020 with a total gross transaction value (GTV) of more than USD 22 billion. (LM)