South Korean PE firms’ series C funding in POPS
YKVN acted as lead counsel for the investors being Mirae Asset-Naver Asia Growth Fund, a joint venture between Seoul-based Mirae Financial Group and Naver, and Eastbridge Partners, an independent private equity firm headquartered in Seoul.
The team was led by Mr Phan Vinh Nhan, Partner, who specialises in M&A and private equity and is based in Ho Chi Minh City.
Mirae Asset-Naver Asia Growth Fund and Eastbridge Partners participated in a bidding process against other investors. This deal required extensive legal due diligence of POPS Worldwide and its Vietnamese and Thai subsidiaries. The transaction agreements were carefully tailor-made and heavily negotiated to, on the one hand, accommodate the commercial intent of the parties (among others, to minimise disclosure and leakage of information to the market and achieve the most tax efficient structure) and, on the other hand, ensure the compliance with the applicable legal requirements. Established in 2008, POPS has been providing online entertainment and kid content through multiple digital platforms such as YouTube, Facebook, Spotify, Apple Music and Amazon.