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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