Southeast Asia’s largest integrated car e-commerce platform Carsome Group (Carsome) today announced the closing of its $290 million Series E round, bringing the company’s valuation to about $1.7 billion.
Carsome’s position as Southeast Asia’s top complete e-commerce auto platform is strengthened even more by this fresh funding.
Qatar Investment Authority (“QIA”), 65 Equity Partners (“65EP”), and Seatown Private Capital Master Fund (“Seatown”) sponsored the most recent financing round. Investors such as Mediatek, Sunway, Gokongwei Group, YTL Group, and Taiwan Mobile also participated in the round.
Carsome expects to use the proceeds raised in this round of funding to accelerate investment in people, product, technology, data capabilities, infrastructure, and regional expansion of its retail brand, Carsome Certified, across major markets in Malaysia, Indonesia, and Thailand.
The Qatar Investment Authority (“QIA”) is Qatar’s sovereign wealth fund. Since its inception in 2005, QIA has been investing and managing state reserve funds.
QIA is one of the world’s largest and most active sovereign wealth funds. For a global and diversified investment portfolio with a long-term view that can deliver long-term returns and contribute to Qatar’s growth, QIA invests across a wide variety of asset classes and geographies in conjunction with prominent institutions throughout the world.
65 Equity Partners is Temasek’s independently managed wholly-owned investment platform that focuses on delivering equity and structured funding solutions to established firms in Southeast Asia, Europe, and the United States with regional or global ambitions.
65 Equity Partners’ approach in Singapore is to provide finance solutions to local businesses that are fundamentally sound and to assist them in expanding regionally or strategically. Prior to their eventual IPO in Singapore, 65 Equity Partners will invest in top enterprises and new economy businesses in Singapore and the region.
SeaTown Holdings International manages the SeaTown Private Capital Master Fund, a closed-end fund focused on private equity investments.
Investment manager SeaTown Holdings International is established in Singapore and focuses on alternative, absolute return methods. With assets worth over $6 billion under management,
SeaTown Holdings International administers open-end funds for multi-asset and public credit strategies, as well as closed-end funds for private investment strategies.
Temasek Holdings owns an indirect stake in Seviora Holdings’ wholly-owned subsidiary.