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Stonebridge’s first fund invests more than half of committed capital Fund deploys capital across sectors including biotech, technology, logistics and food

Translated by Ryu Ho-joung 공개 2021-09-23 07:37:42

이 기사는 2021년 09월 23일 07:31 thebell 에 표출된 기사입니다.

Seoul-based private equity firm Stonebridge Capital’s first bind-pool fund has deployed more than half of its committed capital, only about a year after the fund began investing.

Stonebridge Mid Cap I, which closed in July 2020 with 306 billion won ($260 million) in commitments, has invested roughly 187 billion won to date, which represents about 60% of its committed capital.

The ratio of invested capital to committed capital is likely to increase to 75% before the end of the year when considering two more deals in the pipeline.

Most recently the private equity firm signed a deal to acquire nutritional supplement company Health balance for 80 billion won in partnership with Daehan Flour Mill, with about 50 billion won of the acquisition cost set to be financed through the fund. The deal is expected to close next month.

The fund’s other portfolio companies include Texas-based Caris Life Sciences and Cloocus, a cloud managed service provider and cloud partner of Microsoft Azure. The fund also invested in AJ Total’s chilled and frozen warehouse business, content production studio Realies Pictures and golf service platform company Kakao VX earlier this year.

The fund focuses on middle-market high growth companies. Its limited partners include domestic institutional investors such as Korea Development Bank, Teachers’ Pension and the Pension Foundation of the General Assembly of the Presbyterian Church of Korea. (Reporting by Ha-na Suh)
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