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GoTo Draws $400 Million From Top Abu Dhabi Fund Ahead of IPO

  • ADIA joins investors like Google, Alibaba in backing GoTo
  • GoTo had been seeking up to $2 billion in pre-IPO funding
gojek Go-Jek
Photographer: Dimas Ardian/Bloomberg
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Abu Dhabi’s biggest sovereign wealth fund has agreed to lead a fundraising at GoTo Group, ahead of a listing that could value Indonesia’s biggest internet firm at as much as $30 billion.

The $400 million pre-IPO commitment by the Abu Dhabi Investment Authority will be the first principal investment by its private equity arm into a technology business in Southeast Asia and its largest deal in Indonesia, according to a statement on Wednesday.