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GoTo Snags $1.3 Billion Ahead of IPO by Indonesia Tech Giant

  • ADIA, Avanda, Fidelity join investors such as Google, Tencent
  • Jakarta-based GoTo plans to go public at home and the U.S.
Ride-hailing Provider Gojek to Merge With E-commerce Operator Tokopedia to Create Indonesia Tech Giant
Photographer: Dimas Ardian/Bloomberg
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GoTo Group, formed this year by the merger of Indonesia’s two most valuable internet startups, raised more than $1.3 billion in the first closing of a fundraising round ahead of its initial public offering.

Investors in the pre-IPO round included the Abu Dhabi Investment Authority, Avanda Investment Management, Fidelity International and Google, the company said in a statement on Thursday.