Indonesia-based e-commerce firm Tokopedia is the latest startup to enter the Vision Fund after it raised USD 1.1 billion Series G round led by the SoftBank megafund and Alibaba.
SoftBank and Alibaba are existing investors in the business — the Chinese e-commerce giant led a USD 1.1 billion round last year, while SoftBank recently transitioned its shareholding in Tokopedia to the Vision Fund. That latter detail is what held up this deal which had been agreed in principle back in October, TechCrunch understands.
Tokopedia didn’t comment on its valuation, but TechCrunch understands from a source that the deal values the company at USD 7 billion. SoftBank Ventures Korea and other investors — including Sequoia India — also took part in the deal. It has now raised USD 2.4 billion from investors to date, with SoftBank first joining in 2014 when it led a USD 100 million round.