SEUM advised Korean company operating a shared housing business called Mangrove in its KRW 15 billion Series B financing from KB Investment, HB Investment, TS Investment, We Ventures, Seoul Investment Partners, Mega Investment, Daesung Private Equity, Ubiquoss Investment.

MGRV operates Mangrove which is a housing brand combining wellness and co-living. Mangrove provides co-living space for single millennials to have a healthy lifestyle in the city. Based on understanding of the lifestyle of single households, Mangrove separated shared space and personal space, and attracted attention as the space that adds sustainable value to the lives of individuals and communities.

MGRV is taking active steps in the shared housing industry, including participation as an operating partner in Korea’s first co-living blind fund created by IGIS Asset Management and operation of the first location last year. In addition, MGRV’s CEO, Kangtae Cho is taking the lead in regulatory innovation by participating in the policy meeting hosted by the Korea Chamber of Commerce and Industry as a representative of startups in the shared housing sector.

SEUM provided the advisory services for MGRV in this investment including review of the investment agreements from the investors based on a deep understanding of the startup industry and strong expertise in the proptech from serving as a legal support group for the Korea Proptech Forum.