South Korean Asset Manager Reportedly to Invest in Didi

A South Korean asset management company is reportedly planning to inject $263 million into China’s ride-sharing leader Didi Chuxing, a deal which could mark the first major investment by a South Korean capital fund into a Chinese startup.

The investment by the Mirae Asset Financial Group, South Korea’s largest fixed income fund manager, will be handled by its two subsidiaries, Mirae Asset Capital Co. and Mirae Asset Daewoo Co., South Korean news portal Naver reported on Wednesday.