Softbank Internet and Media and Sequoia Capital to Invest US$100 Million in Tokopedia (Asia)

Source: Softbank Internet and Media

Telecommunications conglomerate Softbank Internet and Media has agreed to lead a US$100 million financing round for Indonesia-based online marketplace Tokopedia. Venture capital firm Sequoia Capital and existing shareholder SB Pan Asia Fund, a fund managed by Softbank Ventures Korea, will also participate in the round. Sequoia’s investment will be structured through its fourth India-focused fund. Tokopedia aims to use the fresh capital to focus on customer acquisition, hiring and other initiatives to strengthen its market position. The investment, which is subject to certain conditions, is expected to close in December 2014.