Signite Partners said it had invested because "millions of people use Grab daily".

South Korea-based retail firm Shinsegae Group’s corporate venture capital (CVC) firm has invested an undisclosed amount in Singapore-based ride-hailing service provider Grab.

Shinsegae’s Signite Partners on 16 February said it had invested because “millions of people use Grab daily and the Southeast Asian region is showing rapid growth in the mobile sector”.
In September, Grab raised $200m from STIC Investments and an undisclosed amount of investment from KB Financial Group’s venture capital unit.

Grab has also raised funds from SoftBank’s near-$100bn Vision Fund…

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James Mawson

James Mawson is founder and chief executive of Global Venturing.
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