Private equity (PE) firm Anchor Equity Partners has invested $100 million in China-based parking service provider Sunsea Parking in a series B funding round partnership with Goldman Sachs PIA, sources said on Wednesday (January 20).
Sunsea Parking, which operates more than 1000 parking lots in over 40 cities in China, also received 1.5 billion yuan from Warburg Pincus in November 2017.
Founded in 2006, the company provides services for the entire value chain of parking management, including urban parking, parking lot planning and design, and intelligent parking operation, investment and construction.
It is Anchor Equity Partner’s first investment in the mobility industry. The PE firm is expected to expand its investments if it sees strong growth potential in the industry.
The company has expanded its presence in various sectors in Asian markets like South Korea, Hong Kong, China and Singapore since it was founded in 2012.
Anchor Equity Partners ramped up its exit activity last year, including the 280 billion won sale of Health Balance and the 870 billion won sale of Eco Green Holdings, one of its most successful deals in 2020. The firm sold a 46% stake in Geo-Young in 2019.
It acquired about 15% of skincare brand Dermafirm, becoming the second largest shareholder, and bought a controlling stake in color cosmetics brand W.Lab in 2020.
The PE company has made investments in the financial services industry through JB Financial Holdings and Kakao Bank. It also has e-commerce firm Ticket Monster, coffee shop chain A Twosome Place and contents companies Kakao M, Kakao Page and Line Games in its portfolio. (Reporting by Hee-yeon Han)