State-backed Cool Japan Fund to invest $50m in Indonesia’s Gojek

Photo by Gojek

The state-backed Cool Japan Fund will invest about $50 million in Indonesian ride-hailing startup Go-Jek, seeking to add Japanese content to the multi-service company’s new video streaming offering and promote Japanese cuisine.

Go-Jek operates one of Southeast Asia’s largest online platforms. The company said it has 155 million downloads for its services ranging from ride-hailing and food delivery to mobile payments.

Part of Cool Japan’s infusion will go toward Go-Jek’s video and music streaming service for mobile users. The public-private fund hopes to tap the popularity of Japanese anime and horror movies in Indonesia. It will help bring existing programs to Go-Jek’s service and work with the startup to produce original Japan-related content locally.

The fund’s investment also will help Japanese restaurants in Indonesia set up shop at Go-Jek’s Go-Food Festival locations. These offline sites feature the food delivery service’s top-selling merchants.

The new investment marks the biggest in Southeast Asia for Cool Japan, which aims to encourage overseas demand for Japanese products and services.

Go-Jek’s Japanese investors also include trading house Mitsubishi Corp. and automaker Mitsubishi Motors, which have provided capital to the ride-hailing business.

This article was first published on Nikkei Asian Review

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.