SoftBank-Backed Grab Snags $200 Million From Private Equity Firm
A Grab Holdings Inc. courier wears a protective shield on their back while making deliveries in Jakarta, Indonesia.
Photographer: Dimas Ardian/BloombergThis article is for subscribers only.
Southeast Asian ride-hailing leader Grab Holdings Inc. is raising $200 million from South Korean private equity firm Stic Investments Inc., according to people familiar with the matter.
Seoul-based Stic Investments is looking to increase its exposure to the region and will invest about $100 million from one of its funds while raising the remainder from co-investors, according to the people, who asked not to be named because the matter is private. Representatives of Grab and Stic declined to comment.