SBI Takes 20% of Ajaib in $270M Southeast Asia Investment

SBI Holdings said on August 28 that it had made a strategic investment in Indonesia-based Ajaib Group through a subsidiary. The transaction secured an approximately 20% stake and made Ajaib an equity-method affiliate.

Ajaib said the investment totaled $270 million, lifting its cumulative funding since 2019 to more than $500 million.

SBI described Ajaib as a multi-asset platform spanning conventional financial products and digital assets. The partnership, it said, is part of an effort to develop digital-asset infrastructure and an exchange network centred on Southeast Asia.

SBI’s stake makes Ajaib an equity-method affiliate

The transaction makes Ajaib an equity-method affiliate after an SBI subsidiary acquired an approximately 20% interest, according to SBI’s announcement, which described the investment as strategic.

ANTARA News reported Ajaib’s valuation of the investment at $270 million. SBI’s statement did not include an investment amount.

Separately, The Block called the transaction Ajaib’s largest technology funding round since 2022 and reported that SBI had not put a value on it.

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