South Korea’s Vogo raises $350m for Fund II, eyes final close next year


Korea flagSouth Korean private equity firm Vogo Investments has reportedly pulled in $350m ahead of a final close for its second fund.

The vehicle plans to hold a final close next year according to AVCJ, which said it had initially been targeting $650m and held a first close in August 2012.

It quoted managing partner Jason Shin as saying most of the capital came from domestic LPs, as foreign investors had been wary because the firm’s debut fund is still not fully invested.

That vehicle gathered $573m at its final close in 2005.

Shin said Vogo had already committed about $120m in equity from Fund II through acquisitions of the Burger King Korea franchise and camera lens maker Samyang Optics.

Fund I’s largest investment is Tong Yang Life Insurance, which it was hoping to exit early last year.

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