find the latest legal job
Senior Associate - Litigation & Dispute Resolution
Category: Litigation and Dispute Resolution | Location: Melbourne CBD & Inner Suburbs Melbourne VIC
· Come work for a firm ranked in Lawyers Weekly Top 25 Attraction Firms
View details
Associate - Workplace Relations & Safety
Category: Industrial Relations and Employment Law | Location: Brisbane CBD & Inner Suburbs Brisbane QLD
· Employer of choice · Strong team culture
View details
Freelance Lawyers
Category: Banking and Finance Law | Location: All Perth WA
· Freelance opportunities through Vario from Pinsent Masons
View details
Freelance Lawyers
Category: Other | Location: All Adelaide SA
· • Qualified lawyer with a strong academic background
View details
Freelance Lawyers
Category: Other | Location: All Melbourne VIC
· • Qualified lawyer with a strong academic background
View details
Indonesian start-up poised to enter foreign tech markets

Indonesian start-up poised to enter foreign tech markets

A company that provides on-demand app services, from online food orders to hailing a moto-taxi, has raised more than US$550 million in capital.

Firm: Allen & Overy (GO-JEK)

Deal: GO-JEK has successfully raised in excess of US$550 million in equity.

Value: US$550 million

Area: Finance

Key players: The Allen & Overy team advising GO-JEK was led by corporate partners Sugianto Osman and Brendan Hannigan, based in the firm’s Jakarta and Singapore offices respectively. Sydney-based senior associate and Asia TMT specialist Connell O'Neill assisted with the transaction.

The core legal team was supported by senior associates Dion Alfadya, Daniel Harris, Shuhui Kwok and Anggraini Dewi. Associates Simone Lowes, Sam Samid, Denise Ng, Ellen Iu and Bagus Wicaksono also assisted.

Sydney-based counsel Jason Gray, who is a specialist in the Foreign Corrupt Practices Act (FCPA), provided FCPA advice. New York-based Craig Cohen provided US tax advice with support from Evelyn Mo.

Deal significance:

Indonesian technology start-up GO-JEK has successfully completed its latest round of equity capital raising.

More than US$550 million was raised, with investment from private equity firms KKR, Warburg Pincus, Farallon Capital and Capital Group Private Markets, in addition to existing shareholders and international investors.

According to Allen & Overy, which advised GO-JEK in its latest funding round, the private capital raising is the largest on record for any technology company in south-east Asia. The extent of the capital raising is “testament to GO-JEK’s strong market position and potential growth opportunities locally and regionally”, a statement from the firm said.

The company claims to be one of the fastest-growing tech start-ups in Indonesia. Its on-demand app products provide services including motorcycle ride-hailing, online food delivery, instant courier and e-wallet services.

Commenting on the deal, Allen & Overy senior associate Connell O’Neill said the raising demonstrated the growing global appetite for exposure to technology sectors in the south-east Asian region.

“It also [shows] Allen & Overy's ability to successfully manage significant, large, later-stage private funding rounds for emerging tech businesses in south-east Asia,” Mr O’Neill said.

According to Jakarta-based partner Sugianto Osman, the funding will “enable GO-JEK to continue to innovate and expand its offering, cementing its position in the Indonesian market and facilitating potential entry into foreign markets.”

Like this story? Read more:

QLS condemns actions of disgraced lawyer as ‘stain on the profession’

NSW proposes big justice reforms to target risk of reoffending

The legal budget breakdown 2017

Indonesian start-up poised to enter foreign tech markets
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
Jetski
Oct 23 2017
How to fail well
The legal profession is due for an attitude adjustment when it comes to perceived failures, accordin...
Consultation
Oct 23 2017
Lawyers slam rushed consultation for SA repeat offenders bill
The Law Society of South Australia has expressed concern for a proposal to roll out new laws amendin...
IBA
Oct 23 2017
The pursuit of happiness in the law
A panel of legal experts have explored how to define success in the legal profession, and how lawyer...
APPOINTMENTS
Allens managing partner Richard Spurio, image courtesy Allens' website
Jun 21 2017
Promo season at Allens
A group of lawyers at Allens have received promotions across its PNG and Australian offices. ...
May 11 2017
Partner exits for in-house role
A Victorian lawyer has left the partnership of a national firm to start a new gig with state governm...
Esteban Gomez
May 11 2017
National firm recruits ‘major asset’
A national law firm has announced it has appointed a new corporate partner who brings over 15 years'...
opinion
Nicole Rich
May 16 2017
Access to justice for young transgender Australians
Reform is looming for the process that young transgender Australians and their families must current...
Geoff Roberson
May 11 2017
The lighter side of the law: when law and comedy collide
On the face of it, there doesn’t seem to be much that is amusing about the law, writes Geoff Rober...
Help
May 10 2017
Advocate’s immunity – without fear or without favour but not both
On 29 March 2017, the High Court handed down its decision in David Kendirjian v Eugene Lepore & ...