23/05/2022

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Home & Commercial Expert

KKR Leads $180 Mln Financing for Asian Home Interior Platform Livspace

By Yifan Wang

U.S. private-equity firm KKR & Co. is leading a $180 million financing round in Asian home interior-design and renovation platform Livspace.

Ingka Group Investments, part of the largest IKEA retailer, Ingka Group, also joined the fundraising. Other investors included Jungle Ventures, Venturi Partners and Peugeot Investments, according to a joint KKR and Livspace statement on Tuesday.

The two companies said the latest investment will give Livspace a valuation over $1 billion, without providing further details of the deal.

Livspace, which has offices in Singapore and India, plans to use the fresh capital on market expansion, brand building and talent acquisition.

It will also use the funds to invest in other companies in the home design supply chain. The company recently acquired a majority stake in Qanvast, a Singapore-based home remodeling platform connecting homeowners and design professionals.

The investment is part of KKR’s strategy to position for new technologies in Asia. The asset manager has made a host of recent investments in other Asian technology companies, including Indian e-commerce eyewear retailer Lenskart and Chinese direct-to-consumer dairy platform Adopt A Cow.

Write to Yifan Wang at [email protected]

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