[Law firm specializing in startup investment] K-Beauty startup Best Innovation, provided legal advice related to securing 23 billion won in investment.
Article posted in 2025-02-10 16:41:06 | VEAT
Best Innovation, which holds the premium aesthetic brand ‘KOPHER’ rapidly growing in the recent K-beauty market, has successfully completed a 23 billion won seed investment.
Law firm Veat exclusively provided legal advice to Best Innovation in this investment process, ensuring the smooth execution of the investment contract, from responding to investor due diligence and reviewing legal issues to drafting and reviewing term sheets, providing legal advice during the term sheet adjustment process, and drafting and reviewing investment contracts and shareholder agreements.
In particular, advice was provided to ensure that the interests and autonomy of the company receiving investment and the existing major shareholders were not excessively infringed, and to provide advice for determining balanced investment conditions that would allow for the company's long-term growth through investment.
Best Innovation, founded in 2019, is a health & beauty (H&B) company holding skincare brand ‘KOPHER’ and health functional food brand ‘ANDO’, and is rapidly growing domestically and internationally. In particular, KOPHER has established itself in the premium aesthetic market, showing explosive growth with an 84% increase in sales in the first half of 2024 compared to the previous year, and has gained great trust from consumers with a high rating of 4.8 points (out of 5) on the brand’s official smart store.
Through this investment, Best Innovation plans to promote strategies such as expanding into overseas markets, including Japan, the United States, the Middle East, and Indonesia, launching beauty devices, launching a global video content beauty platform, and renewing the brand design targeting the 2030 generation. Best Innovation’s global video content beauty platform will adopt a structure that combines content and commerce to induce inflow into a brand mall using YouTube marketing strategies. This will enhance brand awareness and competitiveness in the global market.
Law firm Veat ranked among the top 10 in Korea by deal count, advising on 39 M&A deals worth approximately $119 million, as listed in Bloomberg’s M&A league table for the third quarter of this year. Based on this rich experience and successful track record, we provide professional advice to ensure legal stability in the startup investment process and to conclude balanced investment contracts.
As an investment case for so-called ‘K-beauty’ startups, which are recently showing rapid growth, we wish Korean beauty & aesthetic startups venturing into the global market success, and we will provide legal advice to assist in investment attraction and contract conclusion for various startups, including K-beauty, so that growing startups can establish themselves as successful global companies, from responding to legal due diligence to reviewing investment contracts and shareholder agreements.
For more detailed information on Best Innovation’s investment news, please refer to the article below, and if you need legal advice related to startup investment attraction, please feel free to contact Law firm Veat.
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Law firm Veat