Legend Capital Portfolio Company Bespin Global, a Korea-headquartered cloud services company, has recently completed its Series D round financing of USD100 million, which will be used mostly for acquisitions.
Concurrent with the investment, the investor, e& Enterprise, a leading digital services provider in UAE (formerly Etisalat Digital), and Bespin Global will form a joint venture that will serve customers in the Middle East, North Africa and Pakistan.
John HanJoo Lee, CEO and co-founder of Bespin Global said, “By combining forces with e& enterprise in the METAP region, we are bringing much needed cloud managed services to the region where cloud adoption is about to explode. e& enterprise has deep customer relationships and the trust of its customers and Bespin Global has the deep cloud management capabilities. Together, we can accelerate cloud adoption in the region. Additionally, we welcome e& as our shareholder. It’s a clear validation of our track record as a trusted cloud managed services provider on the global stage.”
Bespin Global helps its customers in their digital transformation by providing cloud migration, cloud management and related SaaS offerings. It is the first multi-cloud managed service provider in East Asia with partnerships with Amazon Web Services, Microsoft Azure, Google Cloud, Aliyun, Tencent Cloud, and Naver Cloud.
The company has offices in 9 countries including Korea, China, Japan, Singapore, Vietnam, Indonesia, the US, UAE, and Saudi Arabia. It has over 1,700 customers which range from large enterprises to fast growing startups.
Legend Capital led Bespin Global’s Series A financing in 2017, and continued to invest in the company’s Series B financing in 2019. As an early investor, Legend Capital has provided support and help to Bespin Global in global cooperation, enterprise management and subsequent financing, to promote Bespin Global’s development.
In 2020, Legend Capital introduced Serverworks, a leading AWS Cloud integrator in Japan, to Bespin Global. The two companies established a joint venture in September 2021, entering the Japanese market officially.
John HanJoo Lee, CEO and co-founder of Bespin Global said, “It was Legend Capital that first introduced us to the UAE investors that led to the successful funding round with e&. Many venture capital firms talk about adding value, but only a few actually do. Legend Capital continues to add value beyond just capital. We are so lucky to have such a great partner as our investor.”
About Legend Capital
Founded in 2001, Legend Capital is a leading VC&PE investor focusing on the early-stage and growth-stage opportunities in China, with offices across Beijing, Shanghai, Shenzhen, Hong Kong, and Seoul, Korea.
It currently manages USD and RMB funds of over US$10 billion in commitments, and has invested in around 600 companies, covering technology, healthcare, consumer, enterprise service and intelligent manufacturing sectors. Rooted in China, Legend Capital participated in the rise of many world-leading companies by solid investment coverage and systematic post-investment value-add. Over the years, Legend Capital has also become a widely recognized name in bridging key resources in China and overseas through cross-border activities, and a valuable partner to Chinese and overseas investors.
Legend Capital values long-term sustainable investment and incorporates ESG into its long-term development strategy. As a UNPRI signatory since November 2019, Legend Capital is among the first group of top VC/PE firms in China to join the initiative.