Venture Capital: KKR To Lead $190M Series C In South Korean Fashion Platform MUSINSA

July 20, 2023 | News, Venture Capital

MUSINSA is a fast-growing online fashion platform in South Korea.

South Korean online fashion platform, MUSINSA, and global investment firm, KKR, have signed definitive agreements for a Series C fundraise of US$190 million for MUSINSA. This investment is KKR’s first technology growth investment in Korea as part of its Asia Next Generation Technology (NGT) strategy. Wellington Management, one of the world’s largest independent investment management firms, also participated in the round.

The MUSINSA platform, founded in 2001 as an online sneaker community, has evolved into a comprehensive fashion marketplace, featuring thousands of local and international designer brands. Fast Company named MUSINSA among the “10 most innovative Asia Pacific companies of 2023” for its role in globalizing K-fashion.

Mukul Chawla, Partner and Head of Growth Equity, Asia Pacific for KKR, said MUSINSA has established itself as a leading consumer Internet platform in Korea, setting itself apart as a unique marketplace with the capability to promote emerging brands, foster the creator economy in the fashion industry, and deliver an exceptional e-commerce experience for its customers. (Businesswire)

Through this investment, MUSINSA plans to further expand its platform in both online and offline markets, while collaborating with domestic and international brands.

The Series C funding follows previous successful rounds in 2019 and 2021. KKR’s Asia NGT strategy has also invested in various other innovative companies across the Asia Pacific region.

The exact details of the transaction were not disclosed.

Related Story:  Accel-KKR Wraps Up $5.3B For Two New Funds

Photo by Marissa Grootes on Unsplash

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