(News Bulletin 247) – KKR led a US$190 million Series C funding round on Korean online platform Musinsa. KKR makes its investments within the framework of its NGT strategy in Asia and from funds managed by KKR.
This transaction marks KKR’s first technology investment in Korea as part of its Asia Next Generation Technology (NGT) strategy, which aims to support the growth of innovative companies in Asia-Pacific in key themes, including software, technologies consumer and fintech.
Musinsa is one of the largest online and offline fashion companies in Korea, featuring more than 8,000 domestic and overseas brands.
This Series C is the company’s third fundraising and follows its successful Series B round of 130 billion won in 2021 and Series A 100 billion won in 2019.
Mukul Chawla, Partner and Head of Growth Equity, Asia Pacific for KKR, said: ‘We are delighted to partner with the management team and seek to leverage the global network, operational expertise and of KKR’s deep technological experience to bring Musinsa to its next phase of growth. ‘
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