Indonesian Coffee Chain Kopi Kenangan Exploring Potential Sale With Valuation Over $1.2 Billion – CoffeeTalk

Kopi Kenangan, an Indonesian coffee chain, is being considered for partial stake sales by Singaporean sovereign wealth fund GIC Pte and Peak XV Partners, which was formerly Sequoia Capital India and Southeast Asia. The company could be valued at $1.2 billion to $1.4 billion in a transaction, but this may change as considerations are still at an early stage. The sizes of possible stake sales have not been decided, and there is no certainty any will take place. Kopi Kenangan, founded in 2017, has over 800 stores in 45 cities in Indonesia and offices in Jakarta, Singapore, and Malaysia. In 2020, it raised $109 million in a funding round led by Sequoia Capital, with other backers including Alpha JWC Ventures, B Capital, Horizons Ventures, Kunlun, and Belgium’s Sofina and Verlinvest.

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