GO-JEK Confirms GO-Ventures Initiation

Targeting SEA market to power up service ecosystem

Yenny Yusra - 20 August 2018

After the previous rumor about GO-Ventures, a venture capital unit from GO-JEK, Nadiem Makarim, GO-JEK's CEO has confirmed the plan. According to our source, Head of Go-Ventures is a former Redmart executive with long tenure in the investment banking industry, particularly in Singapore.

Makarim said GO-Ventures is currently being prepared and soon to be launched. GO-Ventures targets the funding for SEA startups, prioritizing strategic partnership with GO-JEK business.

Up until now, GO-JEK has invested at medtech startup HaloDoc and insurtech startup PasarPolis. In addition, they have also acquired some fintech services.

GO-Ventures existence will be highly competing with its rival, Grab. Grab has previously announced Grab Ventures. The vertical industries targeted by Grab Ventures includes online payments, finance, shopping, logistics, and food delivery.

Original article is in Indonesian, translated by Kristin Siagian

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