South Korea (SK)-based brokerage and investment banking firm Mirae Asset Daewoo and internet content service company Naver Corp. led fund will infuse in the fast developing online commerce industry in Indonesia.
The Asia Growth Fund plans to commit $50 million in Indonesian online marketplace Bukalapak.
Bukalapak predicts to break even in three years as the company adds new product segments and extends coverage in small towns.
Annually, the company generates $8.3 million in revenue.