GoTo Group pre-IPO funding round
We are advising GoTo Group on its pre-IPO fundraising
Davis Polk is advising GoTo Group on the first close of its pre-IPO fundraising, securing more than $1.3 billion from investors including a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA), Avanda Investment Management, Fidelity International, Google, Permodalan Nasional Berhad (PNB), Primavera Capital Group, SeaTown Master Fund, Temasek, Tencent and Ward Ferry. Further investors are expected to join the pre-IPO fundraising round ahead of the final close in coming weeks.
Headquartered in Jakarta, Indonesia, Gojek and Tokopedia combined to form GoTo in May 2021. Its services span on-demand transport, e-commerce, food and grocery delivery, logistics and fulfillment, and financial services in Indonesia and Southeast Asia.
The Davis Polk corporate team includes partner Miranda So, counsel Sam Kelso and registered foreign lawyers Joo Park and Sangsoo (Eddie) Lee. All members of the Davis Polk team are based in the Hong Kong office.