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DOKU announces $32 million (over 458 billion Rupiah) funding round from Apis Growth Fund II, a private equity fund managed by Apis Partners LLP, a UK-based asset manager that supports growing financial services and fintech businesses. DOKU is Apis Partners' first portfolio in Indonesia.
DOKU is a subsidiary of PT Elang Andalan Nusantara (EAN), a joint venture owned by Emtek and Alibaba. Based on Emtek's financial report, PT Kreatif Media Karya (KMK) holds a 55% stake in EAN's second-tier subsidiary. Furthermore, it is sold to a third party.
The transaction resulted in KMK to lose control in EAN and subsequently stopped consolidating EAN's financial statements to the Group's consolidated financial statements.
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