HankomWith Secures 13 Billion KRW Investment from PayPal Founder’s Global Private Equity Fund
[Asia Economy Reporter Buaeri] Hancom With, an affiliate of Hancom Group, announced on the 4th that it has attracted an investment of 13 billion KRW from Crescendo Equity Partners, a global private equity fund.
Crescendo is a global private equity fund established in 2012 with capital from Peter Thiel, the founder of the global electronic payment service company PayPal, to invest in small and medium-sized enterprises and mid-sized companies in Korea.
Through this investment cooperation with Crescendo, Hancom With plans to accelerate key new businesses such as digital finance and drones, which are being promoted as future new growth engines.
A Hancom With official explained, "Since Crescendo mainly pursues investments that discover and nurture strong small and medium-sized enterprises capable of demonstrating their capabilities in the global market, this investment attraction by Hancom With is evaluated as confirmation of the future growth potential of new businesses."
Hot Picks Today
"Most Americans Didn't Want This"... Americans Lose 60 Trillion Won to Soaring Fuel Costs
- As Samsung Falters, Chinese DRAM Surges: CXMT Returns to Profit in Just One Year
- Tragedy Strikes on Part-time Job Commute... Man in His 30s Arrested for Drunk Driving Death of Freshman College Student
- "Striking Will Lead to Regret": Hyundai-Kia Employees Speak Out... Uneasy Stares Toward Samsung Union
- "Why Make Things Like This?" Foreign Media Highlights Bizarre Phenomenon Spreading in Korea
Meanwhile, this is the second time Crescendo has invested in the Hancom Group. Crescendo made a 50 billion KRW investment in Hancom in 2017.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
