Venture capital firm GDP Venture is currently in talks to acquire 50 per cent stake in Indonesian online travel agent Tiket.com, according to a report by DailySocial.
A trusted source has confirmed the plan, the site reported.
Tiket.com was founded in 2011 by Wenas Agusetiawan, Gaery Undarsa, Dimas Surya, and Natali Ardianto. As one of the first online travel startups in Indonesia (along with Traveloka), Tiket.com had never raised a venture capital round.
However, it is known that Tiket.com’s initial seed round was from an angel investor, rumored to be related to the family who owns the Emtek Group.
If the reports were true, this would be GDP Venture’s second strategic deal in the past few weeks. Early this month, Garena participated in a $550 million funding round for Singapore-based gaming unicorn Garena Interactive, which had rebranded itself as Sea. In Indonesia, Sea is known as the operator for online marketplace Shopee.
GDP Venture co-invested with Farallon Capital Management, Hillhouse Capital, Cathay Financial Holding Co. and President International Development Corporation, an investment arm of Taiwanese food conglomerate Uni-President Enterprises Corp.
Other backers of Sea include the likes of Tencent Holdings, Keytone Ventures, Khazanah Nasional Bhd, General Atlantic and Ontario Teachers’ Pension Plan.