[Asia Economy Reporter Yoo Hyun-seok] NextEye, a Korea-China cosmetics specialist company, announced on the 10th that it will invest 23.8 billion KRW in a fund established for bio-businesses such as fillers. Starting with the filler business, it plans to actively enter the medical beauty and beauty bio industries.
On the 9th, NextEye disclosed that it will make a cash contribution of 23.8 billion KRW to the "Motte Beauty Bio Private Equity Partnership," which is to be established by the private equity fund (PEF) operator Motte Private Equity.
This fund is planned to be established by Motte Private Equity to invest in pharmaceutical and bio-business sectors centered on medical beauty, such as fillers and lifting threads. It plans to generate investment returns by cooperating with NextEye, which has a distribution network for beauty and healthcare in China.
In the future, the plan is to increase the fund size through additional participation from financial institutions and others, and to enhance the corporate value of acquired companies. After the fund is established, the primary focus is on acquiring promising domestic filler companies.
A NextEye official said, “We decided to invest in and collaborate with the fund to utilize the expertise of Motte Private Equity, which has high specialization in beauty bio and pharmaceutical bio industry investments,” adding, “NextEye will discover products with strong competitiveness not only in Korea but also in the Chinese market and successfully enter the beauty bio and medical beauty businesses.”
He continued, “Our goal is to increase investment value and expand business synergies by collaborating with various affiliated companies such as fillers and pharmaceutical companies together with Motte Private Equity,” emphasizing, “Next year, we will focus all efforts on expanding domestic and overseas pharmaceutical distribution businesses including fillers, in addition to the existing cosmetics business.”
NextEye is conducting beauty and cosmetics businesses in China with its largest shareholder, the Chinese beauty franchise company Yumi Dog Group. Yumi Dog Group, including its affiliates, owns about 8,000 beauty franchise stores in China and jointly established and operates Xiehua Hospital, the top hospital in Beijing, and Hanghua Hospital, a top-tier general hospital.
Motte Private Equity is a private equity fund operator established in June 2019. In August of the same year, it received approval from the Financial Supervisory Service to establish a private equity fund operator and has been investing by composing various portfolios within one year of its establishment.
A Motte Private Equity official stated, "We plan to expand our portfolio further through collaboration with NextEye."
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