Apis Invests In Online Payment Processor DOKU

London-based private equity company Apis Partners LLP said on Thursday (Aug. 5) that it has invested $32 million in Indonesian digital payment company DOKU, which was founded in 2007 as part of the tech and media firm Emtek Group.

Related: Bukalapak’s $1.5B IPO Tracking To Be Biggest Offering In Indonesia

Indonesia’s IPO market is seeing serious growth, including the recent growth of eCommerce firm Bukalapak’s initial public offering (IPO) to $1.5 billion, the largest offering of its kind in the country.

Shares of Bukalapak, Indonesia’s first tech unicorn to initiate an IPO, are expected to be priced between 750 and 850 rupiah when it debuts on Friday (Aug. 6).

Read next: Indonesia’s GoTo Startup Seeks $2B In Pre-IPO Talks

GoTo Group — the Indonesian tech giant formed from the multi-billion-dollar merger between eCommerce firm Tokopedia and ride-hailing and payments company Gojek — is planning to go public in the coming months. The company is reportedly hoping to raise a minimum of $2 billion in pre-IPO funding.

The combined entity offers ride-hailing, food delivery, eCommerce and financial services under the brand GoTo Financial, which encompasses GoPay and other merchant and financial services.

The new public listings by Bukalapak and GoTo are anticipated to boost Indonesia’s lackluster IPO market, which stalled last year during the pandemic. Last year’s $470 million IPO market was down some 50 percent over the previous year, Reuters reported, citing data from Refinitiv.

See Also: Gojek Buys Stake In Indonesian Hypermarket Matahari

Indonesia’s ride-hailing firm Gojek acquired a 4.76 percent stake in the hypermarket business Matahari Putra Prima from its parent company Multipolar, Nikkei Asia reported.

The brick-and-mortar hypermarket operator Matahari Putra Prima is a division of the Indonesian consortium Lippo Group, one of the country’s largest conglomerates, per the news outlet. Lippo’s venture capital unit backs Gojek’s biggest competitor Grab, based in Singapore.

Gojek purchased the stake through a subsidiary at 404 rupiah per share, totaling 144.8 billion rupiah ($10.1 million), according to the report. Matahari Putra Prima also gained capital from two investment firms based in the Cayman Islands. The move by Gojek aligns with its plan to partner with Indoseian eCommerce giant Tokopedia, per Nikkei.