SINGAPORE (Reuters) -Indonesia’s biggest tech firm, GoTo Group, said on Thursday it had raised more than $1.3 billion in the first close of its pre-IPO fundraising, backed by investors including Fidelity International, Google and Tencent.
Sources previously told Reuters https://www.reuters.com/technology/indonesias-goto-set-wrap-up-2-bln-funding-round-eyes-ipo-2022-sources-2021-08-19 that GoTo, formed by merging https://www.reuters.com/technology/indonesias-gojek-tokopedia-merge-countrys-biggest-deal-2021-05-17 ride-hailing-to-payments firm Gojek and e-commerce leader Tokopedia in May, was set to complete a pre-IPO funding exercise to raise up to $2 billion but regulatory delays threatened to push its plans to list in Jakarta into early next year.
Malaysian largest fund manager, Permodalan Nasional Bhd, Chinese private equity firm Primavera Capital Group and Fidelity are among Gojek’s new investors.
More investors are expected to join the pre-IPO fundraising round ahead of the final close in coming weeks, GoTo said in a statement.
Last month, GoTo entered into a deal with the Abu Dhabi Investment Authority under which the Middle Eastern sovereign wealth fund would lead the pre-IPO funding with a $400 million investment.
GoTo’s biggest investors include Alibaba Group Holding, SoftBank Vision Fund 1, Singapore sovereign wealth fund GIC and Tencent.
(Reporting by Anshuman Daga; Editing by Muralikumar Anantharaman and Lincoln Feast.)
