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Singapore-based ride-hailing app operator Grab is currently valued at US$14.3 billion, according to CB Insights. Photo: AP

SoftBank-backed Grab snags US$200 million from South Korean private equity firm

  • Seoul-based Stic Investments will invest about US$100 million from one of its funds, while raising the remainder from co-investors
  • Grab is among the most richly financed tech start-ups in Southeast Asia, having raised more than US$10 billion to date including about US$3 billion from SoftBank
Start-ups
Southeast Asian ride-hailing market leader Grab Holdings is raising US$200 million from South Korean private equity firm Stic Investments, according to people familiar with the matter.

Seoul-based Stic Investments is looking to increase its exposure to the region and will invest about US$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.

Despite the devastating impact Covid-19 has had on consumer businesses, Grab has been able to raise money to continue funding its ride-hailing, food delivery and digital financial services.
Apart from its ride-hailing business, Grab now also offers food delivery and digital financial services via its app. Photo: Handout
The Singapore-based company is among the most richly financed technology start-ups in Southeast Asia, having raised more than US$10 billion to date including about US$3 billion from Japanese conglomerate SoftBank Group Corp.

Grab is currently valued at US$14.3 billion, according to CB Insights.

Founded in 1999, Stic Investments has about US$4.5 billion under management, according to its website. Its portfolio companies include Big Hit Entertainment Co, the company behind K-pop sensation BTS, and Vietnamese conglomerate Masan Group Corp.

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