Duzon Bizon, Shinhan Investment Corp Participates as FI

Bain Capital Stake Block Deal Completed
Shinhan Value Up (SPC) Becomes Second Largest Shareholder
Rapid Progress in New Financial Business Development

Shinhan Investment Corp.'s special purpose company (SPC), 'Shinhan Value-Up First Corporation,' has taken over as the second largest shareholder of Duzon Bizon on behalf of Bain Capital.

Duzon Bizon announced that Bain Capital, a global private equity fund (PEF) that had been the second largest shareholder since 2021, completed the disposal of 3,035,552 shares (9.99%) of Duzon Bizon stock to Shinhan Value-Up through a block deal on the 29th. Shinhan Investment Corp. participated as the financial advisor and reportedly raised a total of 313 billion KRW through its own investment and by attracting external investors.

Bain Capital has completed the recovery of its investment in Duzon Bizon. The second largest shareholder of Duzon Bizon has now shifted to Shinhan Value-Up. With the addition of this investment partner, Duzon Bizon is set to create a new turning point in its global expansion strategy and financial cooperation relationships.

Recently, Duzon Bizon has been focusing on expanding into the global market. Last year, its collaboration with Amazon Web Services (AWS) bore fruit, securing opportunities for global expansion through the AWS Marketplace. Furthermore, by welcoming Shinhan Investment Corp. as a strong financial partner, the company plans to launch its global market entry starting with the establishment of a Japanese subsidiary, followed by expansion into English-speaking countries in Southeast Asia and other global markets.

The relationship between Duzon Bizon and Shinhan Financial Group is also expected to strengthen, leading to enhanced cooperation in new business areas. Following Shinhan Bank's participation as a strategic investor (SI) in 2021, the joint venture Techfin Ratings between the two companies has obtained preliminary approval as a corporate finance market-specialized credit rating (CB) platform operator and applied for final approval from the Financial Services Commission in February this year. With recent intentions expressed to challenge the internet-only banking sector, this investment is expected to significantly contribute to strengthening the partnership between the two companies.

A representative from Duzon Bizon stated, "With Shinhan Investment Corp. participating as a financial investor (FI), cooperation with Shinhan Financial Group has been further strengthened," adding, "We expect positive outcomes not only in pursuing our global expansion strategy but also in new financial businesses based on data and artificial intelligence."

This content was produced with the assistance of AI translation services.