Despite the devastating impact Covid-19 has had on consumer businesses, Grab has been able to raise money to continue funding its ride-hailing, food delivery and digital financial services. The Singapore-based firm is among the most richly financed tech startups in Southeast Asia, having raised more than US$10 billion to date including about $3 billion from SoftBank Group Corp. It’s valued at US$14.3 billion, according to CB Insights.
Founded in 1999, Stic Investments has about US$4.5 billion under management, according to its website. Its portfolio companies include Big Hit Entertainment Co., the company behind K-pop sensation BTS, and Vietnamese conglomerate Masan Group Corp.
