South Korea
PE-backed Korean ride-sharing player Socar drops on debut
Socar, a Korea-based car-sharing business backed by the likes of Bain Capital, IMM Private Equity, and SoftBank Ventures Asia, traded down on debut following a KRW 101.9bn (USD 76m) IPO.
Korea's Kakao abandons plans for mobility unit stake sale
South Korean internet giant Kakao has abandoned plans to partially divest Kakao Mobility, its transportation division.
Korea start-up equity management platform raises $11m
QuotaBook, a South Korea-based equity management platform that helps start-ups organise their cap tables, has received USD 11m in the second tranche of a Series A round.
Mobility: Batteries and beyond
The electrification of transportation has created a wealth of opportunities in energy saving and storage. Investors across Asia – led by China – are looking at batteries and other technologies
Alternative fuels: Burning questions
From the landfill to the inside of atoms, the alternative fuels angle on energy transition gives investors a range of risk profiles to consider. Developed economies are the primary playgrounds
Korean carmakers take control of local autonomous driving player
Korean automakers Hyundai Motor and Kia have paid a combined KRW 427.7bn (USD 328.8m) for control of 42dot, a local autonomous driving software developer in which they and several VC investors already held minority stakes.
CPPIB puts $236m into Asia co-investments in second quarter
Canada Pension Plan Investment Board (CPPIB) defied the recent slowdown in Asia private equity investment to deploy more than CAD 300m (USD 236m) across five deals alongside portfolio GPs between April and June.
Affirma supports Korea's NPX in Terapin Studios deal
Affirma Capital has confirmed a USD 38m investment in Terapin Studios, a US-based media platform controlled by Korea’s NPX Capital focused on bringing Korean digital comics to global markets.
Deal focus: Hahn & Co takes GP-led secondaries to new high
Hahn & Company has closed a USD 1.5bn single-asset continuation fund for Korea's Ssangyong C&E, giving it more time to complete the company's transition from cement maker to broader environmental services player
Korea's Viva Republica raises USD 225m
Viva Republica, operator of the Korean money transfer app Toss, has raised KRW 296bn (USD 225.5m) in series G funding from an investor group that includes Altos Ventures, Goodwater Capital, Greyhound Capital, and Kleiner Perkins.
Korea's NPX confirms $160m media platform acquisition
Korea’s NPX Capital has acquired online comics publisher Toomics via its Terapin Studios media platform for USD 160m.
Deal focus: SJL fills Korea’s cross-regional gap
Steve Lim launched SJL Partners to help Korean corporates pursue M&A in the US and Europe, having seen global GPs pass on such opportunities. Meridian Bioscience is the latest addition to the portfolio
Korean GP backs $1.5b buyout of US-listed Meridian Bioscience
SJL Partners, a Korea-based private equity firm that specialises in cross-border transactions, has teamed up with domestic in vitro diagnostics business SD Biosensor to acquire US-listed peer Meridian Bioscience for USD 1.53bn.
Korea's Kakao considers partial divestment of mobility spin-out
South Korean internet giant Kakao has indicated it may sell around 10% of Kakao Mobility, its transportation division, which has several private equity backers.
Deal focus: Hahn finds rich pickings in SK Group
Hahn & Company’s USD 1.3bn acquisition of an industrial materials unit from SKC is its fifth deal involving SK Group in four years. Being a good custodian is regarded as key to securing repeat business
Korea's Hahn & Co targets $3.25b for Fund IV
Hahn & Company has set a target of USD 3.25bn for its fourth Korea-focused fund, which will include a co-investment sidecar of unspecified size.
Affirma targets Korea private debt, secondaries
Affirma Capital is expanding its Korean coverage with the launch of dedicated private debt and secondaries businesses following a relaxation in local regulations.
Korea autonomous driving tech supplier raises $25.5m
Korea’s Autocrypt, a connected mobility technology supplier targeting the autonomous driving sector, has raised a USD 25.5m Series B round featuring STIC Ventures and Hyundai Venture Investment.
Deal focus: Elevation targets Lumena uplift
Elevation Equity Partners sees Korean consumer electronics brand Lumena as a diamond in the rough, with high margins, quality products, and scope for domestic and international expansion
Korean home interiors start-up gets $182m Series D
OHouse, a consumer-facing platform in South Korea used for sourcing materials and services relating to home furnishing and interior decorating, has raised USD 182m in Series D funding.
Korea space tech start-up gets $8m
Korean microsatellite and space data analysis start-up NaraSpace Technology has raised KRW 10bn (USD 8m) from Korea Development Bank (KDB) and several local VC firms.
VIG buys Korean healthy beverage brand
VIG Partners has agreed to acquire a majority stake in Teazen, a South Korean producer of tea-based health drinks, for approximately USD 70m.
Deal focus: Wholesum brings agglomeration to Korea
Drawing inspiration from US-based Thrasio and from his own background in special situations investing, Andrew Joo wants to turn Wholesum into a Korean multi-brand powerhouse
Portfolio: Affinity Equity Partners and ServeOne
Affinity Equity Partners is redefining the B2B outsourcing industry by helping Korea’s ServeOne, escape the gravity of its chaebol parent to access new markets and business lines