Latham & Watkins Advises Investor Consortium on Strategic Investment in Vay by Grab

Latham & Watkins LLP has advised a consortium of existing investors, including Atomico, Project A, Creandum, and Coatue on the strategic investment by Grab Holdings Limited (Grab) in Vay Technology GmbH (Vay), a leading provider of automotive-grade remote driving technology. The transaction is expected to close in the fourth quarter of 2025, subject to regulatory approval and customary closing conditions.

The investment involves an initial cash investment of US$60 million by Grab, with the potential for an additional US$350 million investment contingent upon Vay and Grab achieving agreed financial and operational milestones within the first year post-closing.

This investment enables Vay to scale and expand its operations in the US, while enhancing Grab’s mobility offerings and accelerating its autonomous and remote driving expertise in the long-term.

The Latham team was led by Emerging Companies & Growth partners Markus Krüger and Shing Lo, with partner Mike Turner and associates Lasse Winzer and Dominique Brieger.