Japan's Unison Capital targets $680m for third Korea fund: Report

Japan's Unison Capital targets $680m for third Korea fund: Report

South Korean 10,000 won note is seen on U.S. 100 dollar notes in this picture illustration taken in Seoul, South Korea, December 15, 2015. REUTERS/Kim Hong-Ji

Japan-headquartered private equity firm Unison Capital is targeting to raise up to 900 Korean won ($680 million) for its third Korea fund, AVCJ reported.

DealStreetAsia has reached out to Unison Capital Korea for comment.

The firm set up Unison Capital Korea Inc in 2014 to focus on investments in Japan and South Korea. Subsequently, it closed its first Korean fund at 308 billion won a year later, according to its website. The second fund raised 500 billion won in 2019.

In 2019, the firm scored a 350 billion won exit from tea chain Gongcha to US private equity firm TA Associates. In July this year, the Korean unit was reportedly exploring sale options for its portfolio firm, 3D dental scanner maker Medit Corp.

Unison Capital also proposed to raise about $500 million for an India fund to become the first independent Japanese private equity firm to enter the South Asian nation, Nikkei reported last year. The firm was said to partner with India’s National Investment and Infrastructure Fund for the launch of the fund.

The India business “will give [Unison Capital] the experience and expertise needed for future venture capital operations in Japan,” Nikkei reported.

Unison Capital was founded in 1998 to invest in mid-cap companies in the healthcare, consumer and B2B services sectors.

Its flagship Fund V was closed last year at 71 billion yen $512 million), while it had raised a total of 323 billion yen for previous vehicles.

Earlier this year, Unison Capital also closed its healthcare co-investment fund at 30 billion yen.

The firm has recently exited SHiDAX, an outsourcing services company listed on the TSE Standard Market, while making a new investment in childcare service company Kids Corporation Holdings Inc.

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