Jakarta. Danantara has briefly responded to a senior official’s statement that the sovereign wealth fund had bought shares in Indonesia’s ride-hailing companies, only saying that the agency continues to keep an eye out for diverse opportunities.

Deputy House Speaker Sufmi Dasco Ahmad revealed to labor unions on Friday that Danantara had “entered the apps by purchasing a portion of their shares”. This move is expected to enable the government to keep the commission cuts and drivers’ welfare in check. As part of a May Day promise, Indonesia announced it would cap the commissions that ride-hailing firms take from drivers for each trip at 8%, a huge drop from the current 20%. 

A spokesperson for the fund told the Jakarta Globe that Danantara “continually evaluates diverse market opportunities” in a bid to deliver “meaningful socio-economic impact” for the country.

“We remain disciplined in assessing opportunities based on strategic fit, fundamentals, risk-return profile, and long-term value creation,” the spokesperson said.

“... in accordance with our established investment processes.” 

GoTo -- the tech giant that combines online taxi app Gojek and marketplace Tokopedia -- as well as Grab are the tech giants that dominate Indonesia’s ride-hailing scene. Over the past months, Danantara has been subject to reports of getting involved in the multibillion-dollar merger deal. The fund’s boss Rosan Roeslani indicated a “positive signal” when asked about the merger’s progress in November 2025.