Aug 29, 2018

Ride-hail company Grab forms VC fund for Southeast Asia startups

Photo by Faris Hadziq/SOPA Images/LightRocket via Getty Images

Ride-hail company Grab announced Wednesday that it has formed a $250 million venture capital fund that will invest in Indonesian startups.

The bottom line: Grab is based in Singapore, but claims a 65% market share of the ride-hail market in Indonesia, where it hopes that backing other sorts of companies (e.g., food delivery, etc.) will help it fend off rival Go-Jek.

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