Kurly raises $210 mil from Anchor Equity Partners PE firm makes pre-IPO investment in online grocery delivery platform at $3.4 bil valuation
Translated by Kim So-in 공개 2021-12-22 08:04:32
이 기사는 2021년 12월 22일 07:59 thebell 에 표출된 기사입니다.
Kurly Inc, an operator of South Korea's leading online grocery delivery service Market Kurly, has raised 250 billion won ($210 million) from Hong Kong-based private equity firm Anchor Equity Partners in a pre-initial public offering (pre-IPO) funding.The investment process has been completed in just two weeks after the PE firm approached the Korean unicorn startup about the investment. It normally takes more than a month for a PE firm to finalize its investment decision.
Anchor Equity has shown continued interest in the gourmet food delivery platform, which is preparing for the IPO slated for the first half of next year.
Anchor Equity’s interest in Kurly has continued even after its attempt to make an investment failed in 2018 due to backlash from existing shareholders. Kurly has maintained its competitive edge in the midst of competition from e-commerce giants, with its revenue doubling every year.
Anchor Equity’s first attempt to invest in Kurly was one step faster than other foreign PE firms as they started to make investments in earnest in 2019. Kurly’s existing shareholders include DST Global, Sequoia Capital China, Hillhouse Capital, Aspex Management, and Millennium Management.
Kurly is valued at 4 trillion won in the latest pre-IPO funding, meaning its corporate value grew 1.5 trillion won in just four months since July.
Anchor Equity’s latest investment is expected to heighten expectations for Kurly’s growth potential. The PE firm, which is considered to have a deep understanding of the domestic market, has invested in a wide range of sectors, including pharmaceutical wholesale, e-commerce, food materials, health supplements, waste management, and contents.
Anchor Equity has also successfully made a series of exits in recent years, including sales of A Twosome Place, Geo-Young, Health Balance, and Eco Green Holdings.
It invested 250 billion won in Kakao Bank at the end of 2020, ahead of the digital bank’s stock market debut. After Kakao Bank’s listing earlier this year, the value of Kakao Bank shares owned by Anchor Equity increased to more than 600 billion won.
The PE firm is also estimated to have some 17.6% stake in Kakao Entertainment, which was formed after the merger of Kakao Page and Kakao M. Anchor Equity invested 125 billion won in Kakao Page in 2016 and 209.8 billion won in Kakao M in 2020.
Kakao Entertainment is preparing for its IPO by hiring NH Investment & Securities, KB Securities, and Citigroup Global Markets Securities as lead underwriters. Its corporate value is estimated to be nearly 10 trillion won, which will push up the value of Anchor Equity’s equity holding to over 1 trillion won. (Reporting by Seok-cheol Choi)
< 저작권자 ⓒ 자본시장 미디어 'thebell', 무단 전재, 재배포 및 AI학습 이용 금지 >
관련기사
best clicks
최신뉴스 in 전체기사
-
- [코스닥 CB 프리즘]서진시스템, 보통주 전환 물량에 30% 할증 풋옵션 '이례적'
- 에쓰씨엔지니어링 자회사 셀론텍, 태국에 ‘카티졸’ 공급
- 메트라이프생명, 잇단 사외이사 재선임...송영록 대표 체제도 유지될까
- [보험사 IFRS17 조기도입 명암]현대해상, 단순한 상품구조 '부채 감소' 효과는 컸다
- [저축은행 유동성 진단]NH저축, '안전자산' 투자가 이끈 유동성 개선
- [저축은행 유동성 진단]우리금융저축 '영업 확대'로 끌어올린 유동성
- [저축은행 유동성 진단]하나저축, 대출 영업 축소 대신 '예치금 확대'
- [외국계 보험사는 지금]한국시장 엇갈린 시선 '매력 감소 vs 전략 요충지'
- [닻오른 롯데손보 매각]금융지주와 사모펀드…관점별 이상적 인수자는
- [캐피탈사 글로벌 모니터]JB우리캐피탈, 미얀마 영업 제한 건전성 관리 만전