SoftBank’s Son Pledges Fresh Investments in Grab, Tokopedia By Bloomberg

(Bloomberg) — SoftBank Group Corp. will pump in an additional $2 billion into ride-hailing giant Grab and plans to explore investment opportunities in Indonesia’s electric battery and renewable energy sectors.

The Japanese conglomerate, which announced plans last week to raise a total of $108 billion for its second Vision Fund, will also increase its investment in e-commerce startup PT Tokopedia, SoftBank founder Masayoshi Son told reporters in Jakarta after his meeting with President Joko Widodo.

The serial investor would be pumping in an additional $3 billion into Indonesian companies over the next three years, Coordinating Minister for Maritime Affairs Luhut Pandjaitan said.

SoftBank will invest in setting up a second headquarters for Grab in Indonesia and it’s open to investing more in other unicorns, Son said.

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