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 Toby Grainger
Managing Partner

Toby Grainger

Head of Corporate and Indonesian Desk, Singapore

Languages
  • English
  • Indonesian
Social media

Toby is the Managing Partner of the Singapore office and also heads the Corporate team and Indonesian desk. He has a long-standing record of advising on corporate M&A, venture capital and cross-border investment transactions in the Asia-Pacific region.

He advises clients on all aspects of M&A and greenfield projects, investment structuring, fundraising, shareholder and joint venture agreements, ESOPs, other forms of investment instruments and a wide spectrum of operational agreements.

Toby acts for a range of international and regional groups, emerging companies and startups, VCs, private capital, financial institutions and individual clients across technology, media, healthcare, natural resources, industrial and financial services sectors, where, combining with our market-leading TMT and energy practice teams, we offer deep industry expertise and regulatory knowledge.

Toby is recognised as a leading practitioner in various legal ranking directories including by the Legal 500 Asia Pacific 2025 for Start-up and Venture Capital – Foreign firms, Chambers Asia-Pacific 2021 for Startups and Emerging Companies and ILFR 1000 (2016-2024) for M&A, Energy and Infrastructure, Project development and Financial & Corporate Law.

Toby is dual qualified in both Australia and New Zealand and is qualified to practice law in New South Wales Australia. He has also practised in Indonesia, China and Australia.

Awards & Recognitions
01
  • Quote
    “Toby Grainger has exceptional qualities in handling transactions and providing comprehensive advice. His expertise extends beyond the legal perspective, offering clients well-rounded insights that consider both legal and strategic business implications. Toby is not only a skilled professional but also highly accessible and responsive, ensuring clients feel supported and informed at every stage.”
    The Legal 500 Asia Pacific, 2025
  • Quote
    "What sets Toby Grainger apart is his ability to manoeuvre outcomes subtly and creatively. Moreover, he is always able to give commercially sensible advice and know which issues move the needle and which don’t."
    The Legal 500 Asia Pacific, 2024
  • Quote
    "Toby Grainger has well-established experience advising startups and emerging companies on a range of matters, from early and late-stage financings to M&A transactions. He is particularly adept at assisting clients from the TMT sector and is notably active on Indonesia-related deals. One client comments: "He is knowledgeable, easy to talk to and matter-of-fact."
    Chambers Asia Pacific 2021
  • Quote
    "Department head Toby Grainger is an experienced figure in Singapore and Indonesia deals and is playing a key role in developing the group's practice into other parts of the Asia Pacific region."
    The Legal 500 Asia Pacific 2021
  • Quote
    "Leading lawyer for M&A, Energy and Infrastructure, Project development and Financial & Corporate Law."
    IFLR1000, 2016-2024

Relevant experience

  • ShopBack, a regional e-commerce cash rebates group on various rounds of fundraising, including its Series C-F funding rounds as well as on the acquisition of Hoolah (a regional Buy Now Pay Later group) and Ebates Korea, its disposal of Seedly and its collaboration with Westpac in Australia.
  • Roojai, a managing general agent (developing its own retail insurance products and distributing them digitally on a B2C model in Thailand and Indonesia), on its USD 42m Series B financing led by HDI International AG, the International Retail Insurance division of the German Talanx Group, with participation from existing investor IFC along with a subsequent convertible note bridging round.
  • Japan-based SBI Group on various global investments into a variety of digital finance businesses and platforms in both developed and developing markets.
  • Scarcity Partners on the acquisition of a significant minority interest in January Capital, a Singapore-based VC and private credit investment fund manager.
  • Chip Eng Seng affiliates on the divestment of various education centres / institutions in the Asia region.
  • Deleum Berhad on its acquisition of a 70% stake in Indonesia based PT OSA Industries Indonesia, a leading supplier of valves and maintenance services to the offshore energy industry.
  • Dentsu, a global "big six" advertising and marketing agency group, on the acquisition of Dwi Sapta (the largest independent full service advertising agency in Indonesia) and PT Valuklik.
  • Equinor's corporate venture capital arm, on its investment in Singapore-based battery recycler Green Li-ion, as part of the company's USD 20.5m Pre-Series B fundraising.
  • Keppel Communications and SingTel on the divestment of each of their 50% equity interest in Radiance Communications to NxGen.
  • EMPG, a Dubai-based property portal unicorn on its acquisition of Kaidee, Thailand's biggest online marketplace via a Singapore holding structure.
  • Ampotech, a Singapore-based AI internet of things (loT) tech company in the built environment sector, on its Seed, Pre-Series A and Series A funding rounds.
  • Korea’s ST Pharm and Dong-A on regional and global investments and acquisitions.

Education

  • 2002 – LLB (1 Class Hons), University of Canterbury, New Zealand
  • 2002 – B.Com, University of Canterbury, New Zealand 

Toby is the Managing Partner of the Singapore office and also heads the Corporate team and Indonesian desk. Toby has extensive experience in advising on regional corporate transactions and M&A in the natural resources sector. His clients include both producers / miners, traders, downstream producers, logistics businesses and financial investors.

Toby is recognised as a leading practitioner in various legal ranking directories, including by the Legal 500 Asia Pacific 2025 for Start-up and Venture Capital – Foreign firms, Chambers Asia-Pacific 2021 for Startups and Emerging Companies and ILFR 1000 (2016-2024) for M&A, Energy and Infrastructure, Project development and Financial & Corporate Law.

Toby is dual qualified in both Australia and New Zealand and is qualified to practice law in New South Wales, Australia. He has also practised in Indonesia, China and Australia.

Awards & Recognitions
01
  • Quote
    “Toby Grainger has exceptional qualities in handling transactions and providing comprehensive advice. His expertise extends beyond the legal perspective, offering clients well-rounded insights that consider both legal and strategic business implications. Toby is not only a skilled professional but also highly accessible and responsive, ensuring clients feel supported and informed at every stage.”
    The Legal 500 Asia Pacific, 2025
  • Quote
    "What sets Toby Grainger apart is his ability to manoeuvre outcomes subtly and creatively. Moreover, he is always able to give commercially sensible advice and know which issues move the needle and which don’t."
    The Legal 500 Asia Pacific, 2024
  • Quote
    "Department head Toby Grainger is an experienced figure in Singapore and Indonesia deals and is playing a key role in developing the group's practice into other parts of the Asia Pacific region."
    Legal 500 Asia Pacific, 2021
  • Quote
    "Department head Toby Grainger is an experienced figure in Singapore and Indonesia deals and is playing a key role in developing the group's practice into other parts of the Asia Pacific region."
    The Legal 500 Asia Pacific 2021
  • Quote
    "Leading lawyer for M&A, Energy and Infrastructure, Project development and Financial & Corporate Law."
    IFLR1000, 2016-2024

Relevant experience

  • Deleum Berhad on its acquisition of a 70% stake in Indonesia based PT OSA Industries Indonesia, a leading supplier of valves and maintenance services to the offshore energy industry.
  • Bridge Resources on their Mongolian acquisitions of metallurgical mining assets from ASX listed TerraCom.
  • Matahio on a proposed acquisition of oilfield assets in Thailand.
  • Powernext, an energy exchange, on the joint venture arrangements and regulatory considerations in respect of the establishment of Spark Commodities in Singapore, a joint venture with Kpler.
  • Norwegian marine seismic services provider, Shearwater GeoServices, on its USD 600m cross-border acquisition of the marine seismic acquisition assets and operations of WesternGeco.
  • AFGlobal on the divestment of its Southeast Asian Advanced Pressure Systems business to NOV.
  • Ampotech, a Singapore-based AI internet of things (loT) tech company in the built environment sector, on its Seed, Pre-Series A and Series A funding rounds.
  • A Chinese SOE (and one of the world's largest nickel refiners) on the acquisition of two Indonesian nickel producers in Sulawesi and advising on a related bridge financing.
  • A North Asian investor, developer and operator in the green-energy industry on its solar joint venture project in Kazakhstan comprising of several corporate and financing components.
  • A Singapore-based mining group with operations in Western Australia and Malaysia on its debt and equity fundraising activities, convertible note rollovers, Malaysia project documentation and other general corporate advice.

Education

  • 2002 – LLB (1st Class Hons), University of Canterbury, New Zealand
  • 2002 – B.Com, University of Canterbury, New Zealand

Toby is the Managing Partner of the Singapore office and also heads the Corporate team and Indonesian desk. Toby's Technology, Media and Telecommunications transactional experience and strength contributes to the firm's market leading TMT practice in the region.

He advises clients on all aspects of M&A and greenfield projects, investment structuring, VC's early-stage and startup companies, shareholder and joint venture agreements, ESOPs, other forms of investment instruments and a wide spectrum of operational agreements (including licensing, trading and specialist services agreements). Some of his clients include SBI Group, ShopBack, Singtel, Roojai, AC Ventures, CareCam and Ampotech.

Toby is recognised as a leading practitioner in various legal ranking directories, including by the Legal 500 Asia Pacific 2025 for Start-up and Venture Capital – Foreign firms, Chambers Asia-Pacific 2021 for Startups and Emerging Companies and ILFR 1000 (2016-2024) for M&A, Energy and Infrastructure, Project development and Financial & Corporate Law.

Toby is dual qualified in both Australia and New Zealand and is qualified to practice law in New South Wales Australia. He has also practised in Indonesia, China and Australia.

Awards & Recognitions
01
  • Quote
    “Toby Grainger has exceptional qualities in handling transactions and providing comprehensive advice. His expertise extends beyond the legal perspective, offering clients well-rounded insights that consider both legal and strategic business implications. Toby is not only a skilled professional but also highly accessible and responsive, ensuring clients feel supported and informed at every stage.”
    The Legal 500 Asia Pacific, 2025
  • Quote
    "What sets Toby Grainger apart is his ability to manoeuvre outcomes subtly and creatively. Moreover, he is always able to give commercially sensible advice and know which issues move the needle and which don’t."
    The Legal 500 Asia Pacific, 2024
  • Quote
    Toby Grainger has well-established experience advising startups and emerging companies on a range of matters, from early and late-stage financings to M&A transactions. He is particularly adept at assisting clients from the TMT sector and is notably active on Indonesia-related deals. One client comments: "He is knowledgeable, easy to talk to and matter-of-fact."
    Chambers Asia Pacific, 2021
  • Quote
    "Department head Toby Grainger is an experienced figure in Singapore and Indonesia deals and is playing a key role in developing the group's practice into other parts of the Asia Pacific region."
    Legal 500 Asia Pacific, 2021
  • Quote
    "Leading lawyer for M&A, Energy and Infrastructure, Project development and Financial & Corporate Law."
    IFLR1000, 2016-2024

Relevant experience

  • ShopBack, a regional e-commerce cash rebates group on various rounds of fundraising, including its Series C-F funding rounds as well as on the acquisition of Hoolah (a regional Buy Now Pay Later group) and Ebates Korea and on its disposal of Seedly and its collaboration with Westpac in Australia.
  • Singtel Group, a leading Asian communications technology group, on the proposed sale of its mobile wallet Dash to the Western Union group.
  • Ampotech, a Singapore-based AI internet of things (loT) tech company in the built environment sector, on its Seed, Pre-Series A and Series A funding rounds.
  • Roojai, a managing general agent (developing its own retail insurance products and distributing them digitally on a B2C model in Thailand and Indonesia), on its USD 42m Series B financing led by HDI International AG, the International Retail Insurance division of the German Talanx Group, with participation from existing investor IFC along with a subsequent convertible note bridging round.
  • Swedish-based Foxway AB on its proposed acquisition of Rebit, a Singapore-incorporated company in the business of renting and leasing computers and peripheral equipment.
  • Indonesian medtech scale-up, Sirka Science, on its multi-tranche convertible note fundraising round, led by Wavemaker Partners.
  • Fremantle on its acquisition of the Beach House Pictures group from Blue Ant Media.
  • SBI Ventures in relation to its USD 10m convertible loan note investment in M-KOPA Holdings Limited, the UK incorporated holding company for M-KOPA's operations in Africa as a digital microfinance platform.
  • Dentsu, a global "big six" advertising and marketing agency group, on the acquisition of Dwi Sapta (the largest independent full service advertising agency in Indonesia) and PT Valuklik.
  • A sovereign wealth fund's lifesciences accelerator on the spin-off of certain technology assets, fundraising and an investment into a Singapore diagnostics business.
  • SMRT Momentum Ventures on its Series A investment into Telepod Pte Ltd, a start-up in the business of the rental of last mile transportation vehicles.
  • Epsilon Telecommunications, a Singapore-based telecommunications service provider, on the expansion of its partnership with AMS-IX, an independent Internet exchange provider.
  • Indonesia's largest cellular telecommunications company on the proposed restructuring of its telecommunication towers business.

Education

  • 2002 – LLB (1st Class Hons), University of Canterbury, New Zealand.
  • 2002 – B.Com, University of Canterbury, New Zealand.