KKR-led $190 M Series C funding received by online fashion platform Musinsa
A series C funding round led by KKR raised US $190 million for Musinsa, a South Korean online fashion platform. Wellington Management, a significant independent investment management firm, also took part in the round.
With the additional funding, Musinsa intends to keep growing its platform and establish “new standards of success in the online and offline markets with domestic and foreign brands,” according to a statement from the company.
As part of its Asia Next Generation Technology strategy, which aims to support the growth of Asia-Pacific companies in sectors like software, consumer tech, and fintech, the funding represents KKR’s first tech growth investment in Korea.
Participating in the US $120 million funding round of Vietnam-based edtech startup EQuest Education Group is one of its most recent investments in the area.
Additionally, earlier this month, it was revealed that KKR is aiming to raise up to US $1.5 billion for its Asia Next Generation Technology Growth Fund. According to PitchBook, the fund is based in China.
In 2001, Musinsa launched as an online community for sneakerheads. Since then, it has developed into a marketplace for fashion with more than 8,000 local and international designer brands as well as an in-house brand.
A community, a brand incubator, a direct-to-consumer brand operator, and a space for pop-up exhibitions are all part of the ecosystem the company has created.
