General Atlantic, a global growth equity firm, opened a new office in Jakarta, Indonesia, and has appointed Ashish Saboo as Managing Director to lead operations and on-the-ground presence in the country.
General Atlantic made its first investment in Southeast Asia in 1999 and since then has invested more than $200m in five companies. The firm currently has three portfolio companies in the region, including:
– PT MAP Boga Adiperkasa (“MBA”), a food and beverage retailer operating five exclusive brands in Indonesia including Starbucks, Pizza Express, Krispy Kreme, Cold Stone Creamery, and Godiva;
– Sea, one of Southeast Asia’s largest Internet and mobile platforms for entertainment, e-commerce, and digital financial services; and
– Zimmermann, a global luxury fashion brand that designs and sells iconic Ready-To-Wear and Swim and Resort collections through its online platform and own retail stores, as well as select department stores, boutiques, and online fashion retailers.
Saboo joins General Atlantic from CT CORPORA, a diversified Indonesian-based holding company that is active in several industries, including financial services, media, lifestyle, retail, property, family-entertainment, and aviation, where he led business development for the firm over last 12 years to make it one of the leading diversified consumer players in Indonesia.
Prior to joining CT CORPORA, Saboo was an Executive Director at PwC, based in Jakarta, for almost 10 years.
He is also a co-founder of Mansionly, a global service platform for interior and lifestyle solutions.
FinSMEs
16/02/2019