Adia to invest in Indonesia’s Goto Group

DUBAI. The Abu Dhabi Investment Authority (Adia) said yesterday that a wholly owned subsidiary has entered into an agreement with Goto Group, the largest digital ecosystem in Indonesia, for Adia to lead GoTo’s pre-IPO fund-raising with a $400 million investment.

The transaction will be the first principal investment by Adia’s Private Equities Department into a technology business in Southeast Asia and its largest investment into Indonesia to date.

“This investment in Goto is aligned with a number of our key investment themes, including the growth of the digital economy in the fast-growing markets of Southeast Asia,” said Hamad Shahwan Al Dhaheri, Executive Director of the Private Equities Department at Adia.

“We see strong potential in the region, particularly in Indonesia.”