Swedish private equity firm EQT has agreed to acquire a controlling stake in Remember & Company, an AI-enabled human resources technology platform in South Korea, for 500 billion won ( US$400 million ).

Major shareholders, including Ark & Partners, will sell their stakes to EQT’s BPEA Private Equity Fund VIII. EQT says it secured exclusive negotiation rights and led the transaction on a proprietary basis, preempting a competitive bidding process, by leveraging its expertise in the business to recognize Remember's differentiated investment proposition early on.

Founded in 2013 as a business card management app, Remember has rapidly grown into a leading AI-powered HR tech platform serving the majority of South Korea's professional workforce.

Leveraging a proprietary, self-updating database of over 500 million name cards and 5 million users, it delivers end-to-end recruitment solutions to more than 10,000 enterprise clients – enhancing hiring speed, precision, and recruiter productivity.

Beyond recruitment, Remember has evolved into a comprehensive platform integrating content-driven networking, CRM ( customer relationship management ) capabilities, and lead generation tools.

‘LinkedIn of Korea’

Often referred to as the "LinkedIn of Korea", it has established a strong presence in a market where LinkedIn remains underpenetrated, while advancing more inclusive and efficient hiring across industries.

The deal is underpinned by strong macro tailwinds in South Korea, including demographic shifts, increasing demand for experienced hires, and the evolution of recruitment technologies.

These conditions are accelerating the adoption of outsourced and AI-enabled talent platforms, particularly among mid-sized and enterprise clients, EQT says.

Aside from the Remember deal, EQT has made several investments in the HR tech sector, including Beamery in the United Kingdom, HRBrain in Japan, Handshake in the United States, and PageUp in Australia.

Ark & Partners, recognized as a next-generation growth buyout investor in Korea's private equity industry, played a pivotal role in this transaction.

Since acquiring Remember in December 2021, Ark & Partners has strengthened the company's operational capabilities and transformed the business model from a business card app into a fast-growing HR tech platform. As a result, Remember's revenue grew more than twelvefold within three years.

‘Strong growth trajectory’

Dayea Yeon, partner in the EQT Private Capital advisory team and head of EQT Private Capital Korea, comments: “With a clear competitive edge and strong growth trajectory, [Remember] represents a highly thematic investment for EQT. By leveraging our global network of industry advisers, 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.”

Sungmin Kim, founder and CEO of Ark & Partners, adds: "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.”

EQT has been active in South Korea since 1998 and views the country as a core pillar of its Asia-Pacific strategy across private equity, infrastructure, and real estate.

The transaction is subject to customary regulatory approvals and is expected to close in the third quarter of 2025.