Grab launches $100m Indonesian social impact fund

A customer uses the GrabTaxi app on her smartphone to book for a taxi in Hanoi, Vietnam September 9, 2015. REUTERS/Kham

Southeast Asian ride-hailing platform Grab will be launching a $100-million social impact investment fund under its “Grab 4 Indonesia” 2020 master plan.

The ‘Grab 4 Indonesia’ fund will invest up to $100 million in companies focused on deepening financial inclusion across all cities and income levels in Indonesia.

The fund will focus on the mobile and financial services industries with a particular emphasis on serving smaller cities and communities who have yet to benefit from the digital economy, helping entrepreneurs accelerate their products to market with both capital investment and technical assistance from Grab.

In support of the “1,000 Digital Startups National Movement” initiated by the Government of Indonesia, Grab will also organise a series of entrepreneurship programs in collaboration with selected partners including educational institutions and entrepreneurship organisations.

This will include seminars for aspiring entrepreneurs and mentorship from executives on developing sustainable business plans with social purpose.

Through the plan, endorsed by Indonesia’s Investment Coordinating Board, Grab will invest $700 million in the country over the next four years to support its goal of becoming Southeast Asia’s largest digital economy by 2020.

“Grab 4 Indonesia” programme also envisages opening a Grab R&D centre in Jakarta, expand access to mobile payments and financing opportunities and launching of the fund.

Also Read: 

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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.