Anchor Equity Partners led a 60 billion yen ($550 million) investment round in Kakao Japan, while Advantage Partners invested 7 billion yen ($64 million) in restaurant operator Saint Marc.
Anchor Equity invests $550m in Kakao Japan
Anchor Equity Partners, a private equity firm focused on opportunities in Korea and North Asia, has led an investment round worth 60 billion yen ($550 million) in the Japanese subsidiary of South Korean internet giant Kakao.
The deal marks the first investment made in an overseas Kakao subsidiary. Kakao Japan’s corporate value from this investment was recognised at 800 billion yen, according to news reports. Kakao Japan plans to use the proceeds to enhance its webtoon platform, Piccoma.
Piccoma was last year’s top-grossing webtoon application. Its third-quarter transaction volumes have tripled year-on-year to 11.6 billion yen, Reuters reported.
Kakao Japan is the third of Kakao subsidiaries that Anchor Equity Partners has invested in. Last year, the firm invested 210 billion won in Kakao M (which has merged with Kakao Page to form Kakao Entertainment) and 250 billion won in Kakao Bank.
Advantage Partners backs restaurant operator Saint Marc
Japan-based private equity firm Advantage Partners has agreed to invest 7 billion yen in Tokyo-listed restaurant and cafe operator Saint Marc.
The investment comprises an allotment of new shares and convertible bond offering worth about 6 billion yen with stock acquisition rights, reported AVCJ on Monday.
Other food services companies in Advantage Partners’ portfolio include restaurant operators The Monogatari Corp and Hiramatsu Inc.
Advantage Partners is one of the oldest buyout funds in Japan with over 40 companies in its current portfolio. It has previously exited 61 companies, including food and beverages company Pokka and cinema chain United Cinemas.
One of its recent investments was in Pharmaforte, a sales and marketing agency.