Indonesia: GDP Venture in talks to buy shares of Tiket.com

GDP Venture logo from the company website

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.

Also Read:

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Creador looking at creating digital fund, says Cyril Noerhadi

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Singapore Reporter/s

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

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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.