Grab Receives Funding From South Korean Retailer Shinsegae Group’s VC Arm

Grab Receives Funding From South Korean Retailer Shinsegae Group’s VC Arm

“Signet Partners, Shinsegae Group’s corporate venture capital firm, announced Tuesday that it had made an investment in the Singapore-based ride-hailing and food delivery app Grab,” reported The Korea Herald.

 

Details:

 

  • South Korean retail group Shinsegae Group didn’t disclose the funding amount.
  • One official at Signet Partners said that the VC firm will continue investing in “promising startups” both at home and abroad.

 

Context:

 

  • Signet Partners was founded in July last year and has invested in US fashion brand Entireworld, South Korean fashion tech firm Ably Corporation, and lifestyle company Homes.
  • Earlier this month, Grab closed its first senior secured term loan facility of US$2 billion.

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