South Korea
Korea's Tmon closes $276m pre-IPO round
PS Alliance, an investment unit of South Korean automotive and electronic components manufacturer Poongsung Group, has led a KRW305 billion ($276 million) commitment to local e-commerce platform Tmon.
Carlyle to invest $200m in Korea's Kakao Mobility
The Carlyle Group has invested $200 million in Kakao Mobility, a transportation-focused spinout from Korea’s Kakao Corporation that offers taxi-hailing, designated driver, and other services.
Korean retailer Shinsegae invests in Southeast Asia's Grab
Korean retailer Shinsegae has invested in ride-hailing and online-to-offline services (O2O) platform Grab, as financial and strategic players from Korea and Japan continue their push into Southeast Asian technology unicorns.
Korean e-commerce player Coupang set for US listing
Coupang, a Korean e-commerce business that has secured approximately $3.5 billion in private funding over the past decade, has filed for an IPO in the US.
Match buys VC-backed Korean social platform for $1.7b
Hyperconnect, a Korean social media platform backed by Altos Ventures and SoftBank Ventures Korea, has agreed to an acquisition by online dating giant Match Group for $1.73 billion in cash and stock.
AVCJ Awards 2020: Exit of the Year - Mid Cap: EMC Holdings
Taking full ownership of EMC Holdings wasn’t on Affirma Capital’s agenda, but it performed a successful pivot when the business started moving in the wrong direction
Korea media platform gets $12m Series C
Korea’s SV Investment has led a $12 million Series C round for local media and advertising platform Dable at a valuation of around $90 million.
Delivery Hero wins approval for Woowa deal in Korea
Private equity investors in Korean food delivery business Woowa Brothers look set for a liquidity event after regulators gave conditional approval for a $4 billion acquisition by Delivery Hero.
OTPP backs Korean fried chicken chain at $1.6b valuation
Ontario Teachers’ Pension Plan (OTPP) has invested in Korean fried chicken restaurant franchisor BHC Group at an enterprise valuation of KRW1.8 trillion ($1.6 billion), facilitating a full exit for Elevation Equity Partners.
IMM raises $1.8b for fourth Korea fund
IMM Private Equity will complete fundraising for its fourth Korea-focused vehicle at the end of this month, with KRW2 trillion ($1.8 billion) in commitments. It caps a year in which the firm expects to close two new investments and agree exits on three...
SoftBank joins $60m Series B for Korean payments player
SoftBank Ventures Asia has joined a $60 million Series B round for Korean payments technology start-up Chai.
Portfolio: VIG Partners and Joun Life/Preed Life
By merging Joun Life with Preed Life, VIG Partners’ groundbreaking venture into Korean funeral services is reimagining an industry beyond its core ceremonies
Korea's MegazoneCloud raises $122m Series B
Korean enterprise cloud services provider MegazoneCloud has closed a $122 million Series B round featuring more than 20 investors, including at least eight private equity firms.
Asia travel & hospitality: Ready to board?
The outlook for international tourism remains uncertain, but this hasn’t stopped some private equity and venture capital investors targeting travel and hospitality assets in Asia. It pays to be selective
ADIA, OTTP invest $1.2b in renewables-focused Equis
Abu Dhabi Investment Authority (ADIA) and Ontario Teachers’ Pension Plan (OTTP) have confirmed a $1.2 billion investment in Asia-focused renewable energy owner-operator Equis Development.
Profile: Jihoon Rim
Jihoon Rim has been a venture capitalist, CEO of one of Korea’s largest technology companies, and a US business school professor – in the space of a decade. He explains the appeal of new challenges
Deal focus: Affirma's decade-long water turnaround
Having assumed full ownership of EMC Holdings in 2016, Affirma Capital rejuvenated the Korean wastewater management business through savvy acquisitions and encouraging management to get creative
IMM agrees $124m exit from Korea's Hollys Coffee
IMM Private Equity is set to exit its approximately 94% stake in Korean food and beverage chain Hollys Coffee to local digital payments services provider KG Inicis for KRW145 billion ($124 million).
Deal focus: Affinity, Baring leverage market dislocation
Seeing Korean banks trading at discounted valuations and believing in the long-term health of the industry, some private equity investors have taken the opportunity to buy in the public markets
PAG exits Young Toys to Korean strategic buyer
PAG Asia Capital has sold Young Toys, a South Korea-based toy manufacturer it has owned since 2015, to a consortium led by MiraeN Group, a leading local publisher.
Korean AI drug developer secures $14m Series B
Oncocross, a South Korean drug developer that uses artificial intelligence (AI) to identify new applications for treatments already in clinical trials, has raised KRW16.5 billion ($14 million) in Series B funding led by Smilegate Investment and GNTech...
Korean wave: Killer content
From Oscar-winning films to record-breaking pop bands, Korean content has started to replicate its success in Asia in the West. Venture capital investors are looking for ways to ride the K-wave
Affirma to exit Korea waste management business
Affirma Capital – formerly Standard Chartered Private Equity – has agreed to sell EMC Holdings, a South Korea-based waste and wastewater treatment business, to a unit of local conglomerate SK Corporation.
Deal focus: Hahn puts faith in aviation rebound
International travel remains largely off-limits, but Hahn & Company is optimistic on the long-term prospects for Korea's aviation industry and for Korean Air's in-flight catering and duty-free businesses