3 August, 2017
Paul, Weiss advised leading mobile transportation platform DiDi Chuxing (DiDi) in a major new round of investment in Grab, Southeast Asia’s leading ride-hailing company. DiDi teamed with SoftBank Group Corp. to lead the US$2 billion financing round.
Grab anticipates raising an additional US$500 million from other investors, bringing the total to US$2.5 billion in this financing round.
The transaction is the largest-ever venture fundraising round in Southeast Asia, according to The Wall Street Journal, Bloomberg, Financial Times and other media outlets; it also positions Grab as the most valuable startup in Southeast Asia.
The new capital is expected to help Grab to compete and expand into new markets in Southeast Asia.
The Paul, Weiss team included corporate partners Judie Ng Shortell, Jack Lange and Betty Yap and counsel Marta Kelly.
