South Korea
IMM agrees $413m Korea pharma acquisition
IMM Private Equity has agreed to acquire Korea Kolmar Holdings’ pharmaceutical contract development and manufacturing organization (CDMO) for KRW512.5 billion ($413 million).
MBK closes Fund V at $6.5b hard cap
MBK Partners has closed its fifth North Asia-focused fund at the hard cap of $6.5 billion. It is the joint third-largest PE vehicle raised for deployment across the region and MBK has become the seventh manager to cross the $6 billion threshold.
Hummingbird Bioscience gets $25m extended Series B
Hummingbird Bioscience, a Singapore and US-based drug developer with two cancer treatments on course to enter clinical trials, has received $25 million in an extended Series B round of funding led by the holding company of Korea’s SK Group.
Korea's Kurly raises $164m Series E
Kurly, operator of Korean grocery delivery platform Market Kurly, has raised KRW200 billion ($164 million) Series E round from a group of domestic and international VCs.
KDB, K-Growth commit $2b to Korea VC ecosystem
State-owned Korea Development Bank (KDB) and Korea Growth Investment (K-Growth), a fund-of-funds, have jointly committed KRW2.5 trillion ($2 billion) to the local VC ecosystem.
Korea's IMM invests $40m in Chinese water business
IMM Investment, a Korea-based GP that focuses on venture capital, mezzanine and infrastructure deals, has committed $40 million to United Water Corporation, a Chinese water and wastewater treatment provider.
Deal focus: Korean GPs seal semiconductor carve-out
Alchemist Capital Partners and Credian Partners' acquisition of MagnaChip Semiconductor’s foundry services group was the largest PE buyout in Korea during the first quarter. AVCJ and Mergermarket offer some insights
Coronavirus & North Asia VC: Diverging fortunes
Speed of response to COVID-19 has led to differing outcomes for VC investment in Korea and Japan. But structural issues are also a factor
Korean digital food trading platform raises $11m
Tridge, a Korean international trading platform for agricultural products, has raised $11 million in a Series B round from SoftBank.
VIG makes second Korea funeral services acquisition
Korea’s VIG Partners has made the second investment from its fourth fund – which closed at $810 million in January – with an agreement to acquire Preedlife, the country’s leading funeral services provider.
Korean GP invests $16m in electronics industry supplier
Moat Private Equity, a Korea GP set up last year, has taken an approximately 14% stake in KOSDAQ-listed electronics industry supplier Exax for KRW19.8 billion ($16 million).
Integral buys Japanese contact lens maker
Integral Corporation has acquired T-Garden, a Japanese company that makes cosmetic contact lenses, for an undisclosed sum.
Korea cybersecurity player raises $8m Series B
SecuLetter, a Korean cybersecurity technology provider, has raised a $8 million Series B round that included Saudi Arabian VC firm Riyadh Valley Company.
Korean second-hand goods marketplace gets $44m
Several Korean investors have committed KRW56 billion ($44 million) in funding to Bungaejangter, a local C2C mobile marketplace specializing in second-hand goods.
Anchor invests in entertainment unit of Korea's Kakao
Anchor Equity Partners is paying KRW209.8 billion ($163 million) for an approximately 13% stake in the music and entertainment division of Korean internet giant Kakao.
Korea's SK Telecom launches digital healthcare JV with local GP
Korea’s SK Telecom has spun out its digital healthcare development unit to form a joint venture (JV) with local private equity firm Newlake Alliance Management.
Coronavirus in Asia: Ongoing analysis
Coronavirus concerns among GPs not solely focused on China vary based on their direct or indirect exposure to China, but gauging private equity responses to the crisis is like chasing a moving target
AVCJ Awards 2019: Exit of the Year - Large Cap: KCF Technologies
Recognizing strong demand trends for electric vehicle batteries, KKR turned around KCF Technologies within two years before exiting the Korean business with a 6.5x return
Korea’s Company K Partners launches $187m growth fund
Korean venture capital investor Company K Partners has raised KRW122 billion ($153 million) for its latest fund, which has a hard cap of KRW150 billion.
Deal focus: Carlyle sells its golden goose
Having prioritized Asian expansion and high-end direct retail operations, Carlyle completed its exit from European sneaker brand Golden Goose with a more than 3x return
Carlyle Asia secures exit as Permira buys Golden Goose for $1.4b
Golden Goose, an Italian luxury footwear brand acquired three years ago by The Carlyle Group’s Europe and Asia funds, has been sold to Permira for around EUR1.3 billion ($1.4 billion).
Hahn & Co agrees $322m acquisition of SK Chemicals unit
Hahn & Company has agreed to buy the biofuels division of South Korea-based SK Chemicals for KRW382.5 billion ($322 million). It is the private equity firm’s fourth carve-out of an SK Group-owned business.
AVCJ Awards 2019: Exit of the Year - Small Cap: Gong Cha
Unison Capital took a Korean game plan global with the Gong Cha bubble tea chain. Attention to local tastes, however, was the key to the enterprise
Fund focus: Korea’s midcap buyout space comes into focus
VIG Partners believes its recent $810 million fundraise validates the firm's middle-market strategy and spur the emergence of new domestic GPs in this area