Indonesia's GoTo raises $400 mln from UAE sovereign wealth fund ahead of IPO

Asian Tech Press (Oct 21) -- Indonesia's biggest tech group GoTo, has secured $400 million in financing from the UAE's sovereign wealth fund, the Abu Dhabi Investment Authority (ADIA), ahead of its IPO.

The investment was announced by the west Asian investment firm on Wednesday. In an announcement, Hamad Shahwan Al Dhaheri, executive director of the private equities department at ADIA, said, "This investment in GoTo is aligned with a number of our key investment themes, including the growth of the digital economy in the fast-growing markets of Southeast Asia."

GoTo is the merger of two of Indonesia's largest technology companies, ride-hailing and payments firm Gojek and e-commerce leader Tokopedi, and has become the country's largest technology company by market capitalization.

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