Dentons HPRP assists SBI Holdings on US$270 million investment in Ajaib Group, marking Indonesia’s largest tech funding since 2022

Dentons HPRP has successfully assisted SBI Holdings, Inc., a Tokyo Stock Exchange-listed financial services group, on its landmark US$270 million strategic investment in Ajaib Group, one of Indonesia's leading multi-asset digital investment platforms.

The investment represents the largest funding secured by an Indonesian technology company since 2022, marking a significant milestone for Indonesia's digital economy and financial services sector. Following the transaction, Ajaib Group became an equity-method affiliate of SBI Holdings. The investment also establishes the foundation for a long-term strategic partnership to develop tokenization-based financial infrastructure in Indonesia and across Asia.

Dentons HPRP acted as Indonesian legal counsel to SBI Holdings throughout the transaction, advising on the transaction structure, legal due diligence, regulatory considerations and transaction documentation. The matter involved complex cross-border and regulatory considerations, particularly given Ajaib Group's businesses across securities, digital assets and payment services.

The Dentons HPRP team was led by Partner Fabian Pascoal, with Senior Associate Josha Ponggawa and Associates Natasya Gabriela, Pritta Maharani Pribadi, Cindy Rahmatya Hadianti, and Gabriela Zefanya Hartanto. The team drew on its multidisciplinary capabilities across corporate and M&A, financial services, capital markets, digital assets (crypto), payments, technology and competition law to support the successful completion of the investment.

Congratulations to SBI Holdings and Ajaib Group on this significant milestone and strategic partnership.

Dentons HPRP continues to support domestic and international clients on complex cross-border investments, M&A transactions and regulatory matters across Indonesia's evolving digital and financial services sectors.

For further information or assistance with similar legal matters, please contact a Partner listed under Key Contacts.

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