January 16, 2019 / 6:13 AM / 7 months ago

S.Korean fund to invest $50 mln in Indonesian online marketplace Bukalapak

SEOUL, Jan 16 (Reuters) - A fund led by South Korea’s Mirae Asset Daewoo will invest $50 million in Indonesian e-commerce startup Bukalapak, Mirae Asset said on Wednesday.

The Asia Growth Fund jointly set up by Mirae Asset and South Korean web portal Naver Corp decided to invest in the fast growing online commerce industry in the Southeast Asian country, Mirae Asset said in a statement.

Bukalapak has China’s Ant Financial and Singapore’s sovereign wealth fund GIC as major shareholders, according to Mirae Asset. (Reporting by Ju-min Park; Editing by Subhranshu Sahu)

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