KKR is to participate as the lead investor in a $45 million Series B funding round by KiotViet, a merchant platform for micro, small, and medium enterprises (MSMEs) in Vietnam, with participation from its existing investor, Jungle Ventures.
KiotViet aims to drive the digital transformation of MSMEs, a key segment that accounts for approximately 40 percent of Vietnam’s economy. The Company delivers an affordable, full-suite software solution that includes point-of-sale, inventory management, CRM, and employee management services to over 110,000 MSME customers.
Ashish Shastry, Co-Head of Asia Pacific Private Equity and Head of Southeast Asia at KKR, says: “We are excited to invest in KiotViet, an innovative business with terrific growth potential. Our investment in KiotViet marks our sixth in Vietnam and is the first made through KKR’s growth technology strategy in Southeast Asia. This milestone reflects our commitment to providing high-growth technology companies – including those at an earlier stage – with long-term capital and value-added support.”
KKR is making its investment in KiotViet from its Asian private equity fund. KiotViet is KKR’s latest growth technology investment and adds to other recent investments including Lenskart, a leading omni-channel eyewear retailer in India, Adopt A Cow, a digitalized, direct-to-consumer dairy company in China, NetStars, the operator of Japan’s largest QR code payment gateway, and Walnut Programming, a children’s programming education company in China. Additional details of the transaction are not disclosed.
Read more/Source: Private Equity Wire
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