Sociolla may have tempered valuation expectations for ongoing fundraise

Indonesia’s online beauty retailer Sociolla is said to have moderated valuation expectations for its ongoing major fundraise, according to several sources aware of the matter.

DealStreetAsia had reported in November last year that the firm is nearing an equity round of up to $150 million at an over $1-billion valuation. It had roped in at least three global investors at the time, with all of its existing investors, including private equity firm L Catterton, Singapore’s Temasek, EV Growth and Jungle Ventures, committing to re-join the round.