On July, 15, Nocturne Ventures, Private Investment Association, announced that it made KRW 70 bil. equity investment in Kakao Mobility, the largest mobility service company with the most market share in Korea. It is very unprecedented that private investment association to achieve such deal.
This deal was made by acquiring a stake in Texas Pacific Group (TPG) from Nocturne Ventures Investment Association#2 and it was the moment that last month’s rumor about such deal is finally revealed. According to related industry sources, Nocturne Ventures initially planned to acquire a stake worth about KRW 120 bil., but some adjustments were made during the discussion.
It is known that the company value of Kakao Mobility is about KRW 8 tril. during the acquisition process.
Since its establishment in 2021,Nocturne Ventures has shown successful results including investing in Dunamu, Kakao Mobility and etc. The main investor of the association has not been specifically identified, but it is known that major figures in the industry also participated in the investment. As a former CPA at Samil Accounting Corp. and current partner of Nocturne Ventures and Datoz Partners, CEO Sung Jong-hoon has managed the overall operation of the association.