[Courtesy of Mirae Asset]
SEOUL -- Mirae Asset, a major financial and asset management group in South Korea, will create a private equity fund of about 266 million US dollars to invest in Didi Chuxing, a leading Chinese ride-sharing service provider.
The group said Wednesday that the fund will be managed by Mirae Asset Capital, one of its subsidiaries. Mirae Asset Daewoo will join as a major investor. SoftBank, a Tokyo-based multinational conglomerate holding company, is the largest shareholder of Didi Chuxing, which controls 90 percent of China's ride-hailing market. Other investors included Apple and Alibaba.
Didi Chuxing is the first Chinese tech unicorn to be invested Mirae Asset. A unicorn is a startup company valued at over $1.0 billion. Mirae Asset has aggressively expanded its investment at home abroad.
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