SEA

The investment will be used for the brand’s global expansion in the Middle East, Australia, and Southeast Asia, and to further strengthen its foothold in the Indian market.

The Iris Fund, established under the Dana Penjana Nasional program, is co-managed by Hanwha Asset Management and Iris Capital Partners aims to support Malaysian and Southeast Asian startups.

GoTo Group has picked PT Mandiri Sekuritas and PT Indo Premier Sekuritas as underwriters for a local IPO that could happen as soon as next quarter, Bloomberg reported.

The revised SPAC framework will take effect on Jan 1, 2022.

Erick said Indonesia has the potential to create more unicorns, 25 in his estimation.

While Grab did not disclose the financials of the transaction in the filing, the deal is said to be worth between MYR1.5 billion ($354 million) and MYR1.8 billion ($425.42 million), local media reported, quoting sources.

The company was said to be among some 170 firms that applied to the Monetary Authority of Singapore for a permit to offer cryptocurrency services.

Golden Gate's move comes at a time when Southeast Asia is attracting more investors into the region.

Vingroup had set up a Singapore-based holding company owning a stake in Vinfast's operations in Vietnam to fuel the IPO process.

Prenetics, which is expected to go public on the Nasdaq in the first quarter of next year, is also actively looking for local partners in Southeast Asia.