Kopi Kenangan Chain Enters Unicorn Club

Kopi Kenangan, an Indonesian coffee shop chain, has secured $96 million in capital from its latest funding round that valued the company at more than $1 billion, the Jakarta Globe reported.

That makes the company, which is backed by US rapper Jay-Z and tennis champion Serena Williams, the first food and beverage unicorn in Southeast Asia, executives said.

Read the full report: Jakarta Globe.

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George Russell

George Russell is a freelance writer and editor based in Hong Kong who has lived in Asia since 1996. His work has been published in the Financial Times, The Wall Street Journal, Bloomberg, New York Post, Variety, Forbes and the South China Morning Post.