SoftBank's Son Pledges Fresh Investments in Grab, Tokopedia
Bloomberg
Published Jul 29, 2019 12:10AM ET
Updated Jul 29, 2019 01:40AM ET
SoftBank's Son Pledges Fresh Investments in Grab, Tokopedia
(Bloomberg) -- SoftBank Group Corp. will pump in an additional $2 billion into ride-hailing giant Grab and plans to explore investment opportunities in Indonesia’s electric battery and renewable energy sectors.
The Japanese conglomerate, which announced plans last week to raise a total of $108 billion for its second Vision Fund, will also increase its investment in e-commerce startup PT Tokopedia, SoftBank founder Masayoshi Son told reporters in Jakarta after his meeting with President Joko Widodo.
The serial investor would be pumping in an additional $3 billion into Indonesian companies over the next three years, Coordinating Minister for Maritime Affairs Luhut Pandjaitan said.
SoftBank will invest in setting up a second headquarters for Grab in Indonesia and it’s open to investing more in other unicorns, Son said.
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Written By: Bloomberg
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