Musinsa to invest 12 million dollars in fashion startups in South Korea
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The Korea Herald has reported that online fashion retailer Musinsa would be investing 12 million dollars in fashion startups through its venture capital Musinsa Partners. Musina Partners was established in 2018 as a joint venture capital firm that invests in small- and medium-sized businesses in the fashion industry.
The company is currently focused on growing casual, sportswear, and womenswear brands along with startups in the fashion tech industry. The venture capital firm oversees five funds including M&F fashion fund and AP&M beauty fashion fund. Musina is unique in that they make investment without making management changes.
Earlier this year, Musinsa acquired stakes in fashion and beauty platforms Styleshare and 29CM. With Korea’s fashion e-commerce market seeing rapid growth, Musinsa is poised to be an imperative market player as their investments grow.