Hanoi, April 05, 2017 – Appota Group, Vietnam’s top innovation company, is pleased to announced that it has finished the first closing of a Series-C funding from two preeminent investment funds from South Korea, Korea Investment Partners (KIP) and Mirae Asset Venture Investment. KIP leads this round and Sang-Ho Park, Executive Director of the Investment Division at KIP joins Appota’s Board of Directors.
This is Appota’s third funding round since its inception more than 5 years ago. Appota secured a series A round from VNP-Group in 2012, and a series B round from GMO Global Payment Fund and Golden Gate Ventures in 2014.
The series C investment marks KIP’s first financing for a Vietnamese company, and Mirae’s first tech portfolio in Vietnam.
The joint funding by Korea Investment Partners and Mirae leads Appota to a new milestone, where the company will continue to reinforce its number one position in digital content distribution, as well as revving up its newly established advertising and fintech businesses.
Prior to the investment in Appota, Korea Investment Partners has had a strong track record in investing in the world’s leading tech companies, including Kakao, Naver and Super Evil Megacorp. Meanwhile, Mirae’s portfolio are 270 companies worldwide across various sectors such as technology, mobile, finance and consumer products.
Do Tuan Anh, Founder and CEO of Appota, commented: “With this series C funding, Appota is reaching towards the $50M valuation mark. Besides much-needed capital to fortify our platform and scale our services, KIP and Mirae contribute their extensive and active network together with their profound knowledge in the gaming market, social network, and financial tech to help Appota expand with confidence to other parts of Asia.”
Sang-Ho Park, Executive Director, Investment Division, Korea Investment Partners, said: “This is our first investment into a Vietnamese company. However, Appota’s team with international exposure and proven track records has broken the wall of uncertainty and boosted our confidence to invest. Appota has built an impressive mobile ecosystem with over 30 million users, in which each product has a unique role, yet works perfectly to support the others. Above all, KIP always aims to partner with companies with a clear vision and the know-how to fulfill their vision. I believe Appota will sustain their growth story to be amongst the best mobile Internet companies in Vietnam.”
Appota is the leading mobile platform provider in Vietnam with more than 30 million users, partners with over 15,000 developers, advertisers, and merchants worldwide, and operates in Hanoi, HCMC, Indonesia, and Singapore. It is in the top three mobile game publishers in Vietnam, with hit game titles that attract millions of gamers. The company’s ecosystem of mobile products is used monthly by 5 million active users. New businesses including Mobile advertising and Mobile Payment are poised to lead their respective verticals in the market. In 2016, Appota was selected as one in only four companies in Asia to cooperate with Google in deploying its Mobile Ad Exchange platform.
About Korea Investment Partners
Korea Investment Partners is a leading venture capital & private equity firm that has over 30 years of experience in providing venture capital to bold and innovative entrepreneurs who want to change the world. Korea Investment Partners invests in leading pioneers like Kakao, Naver, Seriously, Super Evil Megacorp., Huuuge games, and Doubleu Games. KIP manages 26 venture and private equity funds with US$1.5 billion in total assets under management. The company operates globally from its Seoul headquarter with other locations in Shanghai, Beijing, and Sunnyvale. The holding group of KIP, Korea Investment Holdings, is present in Vietnam through its KIS Vietnam Securities subsidiary.
About Mirae Asset Venture Investment
Mirae Asset Venture Investment is the venture capital arm of Mirae Asset Financial Group – one of the leading financial groups in Korea managing over US$300 billion in assets. The fund invests in specialized enterprises and provides technology, funding, and management consulting. As of 2016, Mirae Asset Venture Investment has US$350 billion asset under management and 270 portfolio companies worldwide across a broad range of market sectors including mobile, fintech, O2O, and consumer products. The fund holds high interest in South East Asia due to extremely high market potential and heavy influence of the Korean culture in some sub-markets.
For further inquiries, please contact:
Mr.Dang Thai Son
Mobile: +84 982105686
Website : http://appota.com