The internet group plans to take a limited partner position in funds being raised by SoftBank and Sequoia Capital.
Internet group Naver intends to provider capital for funds run by telecommunications firm SoftBank and venture capital firm Sequoia Capital, Korea Economic Daily has reported.
The funds in question are a China-based fund co-managed by SoftBank, which already runs the China-focused SBCVC unit, and private equity group TPG; and Sequoia’s Global Growth Fund III, which requires a minimum commitment of $250m from each limited partner.
The moves are intended to diversify Naver’s holdings. The corporate had about $1.8bn in cashable…
