Mubadala to Invest $400 Million in South Korea’s Kakao Mobility as Part of VIG Partners-led Consortium

Abu Dhabi – May 2025 - Mubadala Investment Company, the sovereign wealth fund of the Government of Abu Dhabi, is preparing to invest $400 million in South Korea’s Kakao Mobility, the country’s largest ride-hailing platform.

The investment is part of a broader consortium led by Korean private equity firm VIG Partners, which aims to acquire a stake ranging from 40% to 49% in Kakao Mobility, in a transaction estimated at ₩1.4 to ₩1.8 trillion KRW (approximately $1.03 to $1.33 billion USD).

Goldman Sachs is also participating in the deal with a separate $300 million investment. The consortium plans to acquire shares from existing financial investors, including:

• TPG (29%)
• Carlyle Group (6.17%)
• LG Corp (2.46%)
• Google Inc (1.52%)

In addition, the group will purchase a portion of the 57.2% stake held by parent company Kakao Corp.

Kakao Mobility is currently valued at approximately $4.4 billion, and the transaction is backed by local Korean financial institutions including the Korea Development Bank (KDB), Shinhan Bank, Woori Bank, and Kiwoom Securities Co.

VIG Partners aims to finalize the transaction during May, signaling strong regional and international investor confidence in South Korea’s growing smart mobility sector.