Wadiz Directly Invests in Eyewear Brand Frame Montana

Wadiz Invested 300 Million KRW Directly in Frame Montana Last Month
Raised 900 Million KRW in Crowdfunding Within 30 Minutes... Holds a Strong Fandom

[Asia Economy Reporter Kwak Minjae] Crowdfunding platform Wadiz is making a direct investment in the eyewear brand Frame Montana. This is the first time Wadiz has invested in an eyewear brand, a sector that has not received much attention in the capital market, drawing industry interest to this investment.

According to industry sources on the 1st, Wadiz signed a contract last month to directly invest 300 million KRW in Frame Montana through a fund operated by Wadiz Partners. The actual payment is scheduled to take place in September. An industry insider explained, "We understand that investment discussions regarding Frame Montana have been ongoing for about a year."

Frame Montana is an eyewear frame brand company founded in 2018 by CEOs Choi Younghoon and Lee Jiyoon. Before launching the brand, CEO Choi shared the pre-launch process on Instagram for two years, which became well-known among eyewear enthusiasts through word of mouth. Currently, the company supplies products to three directly operated flagship stores in Seoul, major retailers such as Hyundai Department Store and Lotte Department Store, as well as eyewear retailers nationwide. This is the second time Frame Montana has received institutional investment. Two years ago, Frame Montana secured 2.5 billion KRW in investment from Forest Partners, a private equity fund (PEF) operator.

Wadiz’s direct investment in Frame Montana is known to be a strategic investment in a promising company. A Wadiz representative explained, "Although the investment amount is not large, there was a consensus to scale up promising companies with established fandoms. Frame Montana has a strong fandom, having raised 900 million KRW in just 30 minutes during a Wadiz investment-type crowdfunding campaign in 2021, far exceeding the initial goal of 500 million KRW."

Wadiz is reportedly focusing on nurturing next-generation brands that collaborate with creators and fandoms, seeking brands that can grow together by leveraging Wadiz’s infrastructure. Through this contract, Wadiz and Frame Montana are preparing a funding project to expand their fandom.

Meanwhile, after Wadiz successfully raised 100 billion KRW in a Series D investment round last year from Lotte Holdings and others, direct investment cases like Frame Montana’s are expected to increase further.