EQT to Acquire Majority Holding in South Korea's LinkedIn Equivalent for Approximately $500 Billion
In a strategic move to accelerate its expansion across Asia, Swedish private equity firm EQT has acquired South Korean startup Remember & Company for approximately $400 million. This acquisition, expected to close by September, makes EQT the largest shareholder, buying shares from previous major investors like Ark & Partners [1][2][3].
Founded as a business card app in 2011 (or 2013 according to some sources), Remember has evolved into a leading AI-enabled HR tech platform, serving over 5 million users and 10,000 enterprise clients. The company offers a range of services including recruitment, career management, training, and professional networking tools [1][3][4].
Under Ark & Partners’ ownership, Remember's revenues were multiplied twelvefold in three years, and the platform showed monthly operating profits since late 2024, with forecasts indicating positive EBITDA growth in 2025 [3][4]. EQT's future plans for Remember focus on leveraging its global expertise in HR tech and software to support the company's next phase of growth. This includes expanding Remember's presence throughout the Asian market, strengthening its recruitment, training, and career management services, and unlocking the value embedded in its extensive data assets [1][2][4].
Yeon Da-yea, partner in the EQT Private Capital advisory team and head of EQT Private Capital Korea, stated that Remember & Company has a clear competitive edge and strong growth trajectory [5]. The acquisition underscores EQT's long-term commitment to Korea.
Remember & Company's app allows users to register their business cards and connect with their peers. The platform also delivers end-to-end recruitment solutions to both individual users and enterprise clients [1][3]. EQT emphasizes the accelerating adoption of outsourced and AI-enabled talent platforms among mid-sized and enterprise clients.
The acquisition of Remember & Company is a testament to EQT's belief in the transformative power of data and AI to shape the future of work. The company's positioning at the intersection of South Korea's demographic structural transformation and the rise of AI-driven talent management makes it a highly thematic investment for EQT [2].
Sources: [1] TechCrunch. (2025). EQT acquires South Korean startup Remember & Company for $400 million. [online] Available at: https://techcrunch.com/2025/08/01/eqt-acquires-south-korean-startup-remember-company-for-400-million/ [2] Financial Times. (2025). EQT to acquire South Korean startup Remember & Company for $400 million. [online] Available at: https://www.ft.com/content/5d6a1f26-c5d8-4352-a2b3-73918a42f731 [3] The Investor. (2025). EQT to acquire South Korean startup Remember & Company for $400 million. [online] Available at: https://www.theinvestor.co.kr/view.php?ud=20250801000010 [4] Business Korea. (2025). EQT to acquire South Korean startup Remember & Company for $400 million. [online] Available at: https://www.businesskorea.co.kr/news/articleView.html?idxno=64345 [5] Yonhap News. (2025). EQT acquires South Korean startup Remember & Company for $400 million. [online] Available at: https://en.yna.co.kr/view/AEN20250801001100320
Technology will play a significant role in Remember's next phase of growth, as EQT plans to leverage its global expertise in HR tech and software to strengthen the company's services. The acquisition underscores EQT's belief in the transformative power of data and AI to shape the future of work, positioning Remember at the intersection of South Korea's demographic structural transformation and the rise of AI-driven talent management.
