Phillip Private Equity Leads a US$3 Million Series B Round for Singapore-based Clozette (Asia)

Source: Tech In Asia  |  Author: Willis Wee

Private equity firm Phillip Private Equity has led a US$3 million Series B financing round for Singapore-based fashion social network Clozette. Existing stakeholders, including venture capital firm Walden International and angel investors, also participated in the round. The company intends to use the new funds to recruit talent, accelerate growth and build partnerships in Japan, Taiwan and Indonesia. It previously raised US$1.8 million from Walden International in May 2012.