The private equity firm will join investors in the on-demand ride service including SoftBank, Toyota, Hyundai, Kia, Qunar, Booking.com, Central Group, Yamaha, Microsoft, Didi and Ping An.
Private equity firm Stic Investments is set to provide $200m in funding for Singapore-based, corporate-backed ride hailing service Grab, Bloomberg reported today, citing people familiar with the matter.
The transaction will involve $100m coming from one of the firm’s funds while the rest will be supplied by undisclosed co-investors.
Formerly known as GrabTaxi, Grab’s core business is its app-based ride hailing service, but it has expanded into adjacent areas such as digital financial services, package and food delivery, hotel and…
