Ashmore Indonesia buys 20% stake in Bukalapak's mutual fund unit for $3.5m

Photo: Bukalapak

Buka Investasi Bersama (BIB) — a subsidiary of the Indonesian unicorn and online marketplace Bukalapak — has secured a Rp50 billion ($3.55 million) investment from PT Ashmore Asset Management Indonesia Tbk (AMOR) for a 20 per cent stake.

BIB is an online mutual fund selling agent established in October 2020 to create accessible investment opportunities, particularly for the financially underserved segment. With the investment, the company aims to expand its client base by developing digital capabilities, it said in a statement announcing the deal.

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