South Korean VC firm STIC Investments Inc. has expanded its reach to the Southeast Asian region with an investment of about $200 million in Singapore based ride-hailing startup Grab.
Despite the impact of the COVID-19 pandemic, Grab has continued its operations as a ride-hailing, food delivery, and financial services firm. The startup is among the most promising tech startups in the Southeast Asia region. The startup operates in Indonesia, Malaysia, Cambodia, Myanmar, Thailand, Vietnam, and the Philippines. It has earlier raised about $3 billion from SoftBank Group Corp. Grab has made investments in Ninja Van, a Southeast Asia based express delivery startup, and acquired Bento- a Singapore based digital wealth tool provider.
STIC is one of the largest and most experienced private equity firms in South Korea with investments in companies that engage in promising businesses in various sectors; ICT, bio & healthcare, consumer & consumer technology, games & entertainment, etc. The firm was founded in 1999 and has a proven 20-year track record and abundant investment experience in multiple business cycles.
Notable investments of STIC include Big Hit Entertainment Co., the firm behind K-pop sensation BTS, and Vietnamese company Masan Group Corp. STIC’s global investor base includes sovereign wealth funds, public pension funds, insurance companies, financial institutions, family offices, endowments, foundations, and fund of funds from Korea, Southeast Asia, the Middle East, and Europe.
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