EQT announced its acquisition of a controlling stake in Remember & Company, a top AI HR tech platform in South Korea, for about KRW 500 billion (USD 400 million). Major shareholders, such as Ark & Partners, will sell their stakes as part of the deal, which is one of the largest in South Korea’s HR tech sector. EQT led the transaction exclusively by leveraging its expertise to identify Remember’s value early.
Founded in 2013 as a business card app, Remember now serves over 5 million users and 10,000 enterprise clients with recruitment solutions and additional networking tools. This acquisition was driven by demographic shifts, the demand for experienced hires, and the adoption of advanced recruitment technologies in South Korea. EQT has previously invested in similar HR tech companies globally.
Ark & Partners, a key investor since 2021, helped grow Remember’s revenue twelvefold in three years by transforming its business model. EQT, active in South Korea since 1998, aims to support local businesses with its global resources, focusing on growth and innovation.
The deal awaits regulatory approval and is expected to close in Q3 2025. With this transaction, BPEA Private Equity Fund VIII will be 90-95% invested.
KEY QUOTES:
“Remember is a rare and differentiated asset, uniquely positioned at the intersection of South Korea’s demographic structural transformation and the rise of AI-driven talent management. With a clear competitive edge and strong growth trajectory, it represents a highly thematic investment for EQT. By leveraging our global network of industry advisors, along with our in-house digitalization and sustainability capabilities, we are excited to support Remember’s ambition to become Asia’s leading HR tech platform. This transaction underscores EQT’s long-term commitment to Korea and our belief in the transformative power of data and AI to shape the future of work. We look forward to partnering with Remember to drive both innovation and meaningful social impact.”
Dayea Yeon, Partner in the EQT Private Capital advisory team and Head of EQT Private Capital Korea
“This transaction is a strong validation of our ‘secondary growth buyout’ strategy, demonstrating how hands-on operational and strategic support can unlock the full potential of high-growth companies. The transition from Ark & Partners to EQT, represents a ‘new-generation deal’ that highlights the growing interplay between South Korea’s venture ecosystem and private equity market. From the beginning, we had conviction in Remember’s ability to lead Korea’s HR tech transformation. We are proud of what has been achieved and confident that EQT is the ideal long-term partner to guide Remember through its next chapter of growth.”
Sungmin Kim, Founder and CEO of Ark & Partners
