VIG Alternative Credit Invests 60 Billion KRW in Zigbang Real Estate Platform via BW

VAC invests 60 billion KRW in Zigbang
to support expansion into new business areas

VIG Alternative Credit (VAC), the credit investment division of VIG Partners, has made an investment of 60 billion KRW in Zigbang.

On May 8, VAC announced that it had signed an agreement with Zigbang, a domestic proptech (property + technology) company, to acquire bonds with warrants (BW) worth 60 billion KRW.

The company explained that the decision to invest was based on the strong service competitiveness of Zigbang and Hogangnono, both of which are based on proptech, as well as the high growth potential of the real estate industry.

In particular, VAC highlighted Zigbang's expansion into new businesses, such as advertising services targeting apartment brokers and marketing products for new apartment sales, in addition to its presence in the one-room and two-room rental market. The company also positively evaluated Zigbang's securing of next-generation growth engines through AI-based smart home solutions, such as facial recognition door locks and lobby phones.

Zigbang has maintained its position as the leading real estate platform in the market for over a decade. With this investment, Zigbang plans to further expand into new business areas and accelerate its overseas expansion into countries such as China, Singapore, Taiwan, and Australia.

Simon Ahn, CEO of Zigbang, stated, "Through this investment, we will further develop highly profitable new businesses while continuing to focus on maintaining financial soundness. We will actively lead the digital transformation of the real estate market, which is of great national interest, and create a new paradigm for real estate transactions."

Han Younghwan, Deputy CEO of VAC, commented, "We view Zigbang's market influence and long-term vision as positive factors driving the proptech industry. VAC will strategically support Zigbang's growth from a mid- to long-term perspective."

Meanwhile, VAC is working to establish its third fund, targeting approximately 350 billion KRW in total, by the end of this year. The company plans to continue making aggressive investments in tandem with the fundraising process.