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Mirae Asset, Naver invest $150 mln in Grab

All Headlines 14:39 August 02, 2018

SEOUL, Aug. 2 (Yonhap) -- A startup fund jointly set up by Mirae Asset Financial Group and Naver invested US$150 million in Southeast Asian ride-hailing firm Grab, the companies said Thursday.

The investment is a part of $2 billion in funding raised by Singapore-based Grab from global investors, including OppenheimerFunds, China's Ping An Capital and Macquarie Capital, Mirae Asset said.

Mirae Asset, Naver invest $150 mln in Grab - 1

Mirae Asset and Naver set up the fund in March to bankroll startups in Asia, and Grab is the fund's first investment destination.

Grab, which operates its ride-hailing platform in eight countries in Southeast Asia, is seeking to expand its businesses to food delivery, mobile payment and financial services.

kdh@yna.co.kr
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