Singapore-based distressed buyout investor Turn Capital has announced its acquisition of Taiwan-based influencer-driven e-commerce platform FRND for an undisclosed amount.
Turn Capital bought 100% of FRND, which works with top Taiwanese influencers to co-create and launch original fashion brands, through Turn Capital Opportunities Fund 1.
Turn Capital Opportunities Fund 1 is a value-driven investment fund founded in 2024 to acquire majority stakes in early growth-stage consumer technology companies across Asia.
FRND, founded in 2019, has built seven influencer-led brands with a combined social reach of more than 1.2 million followers. Its main Instagram account has over 113,000 followers.
Yao Ko Jen, FRND’s founder, said Turn Capital brings “operational discipline, digital expertise and deep understanding of influencer commerce”, and that the partnership positions the company for regional expansion.
Turn Capital was launched in 2020 by Joseph Phua, former CEO of 17LIVE. The firm said it is managing a portfolio of companies with a combined valuation of over $1 billion.
The firm targets majority stakes in early growth-stage consumer technology companies across Asia, particularly those in special situations such as founder transitions or operational turnarounds.
Phua said FRND sits at the intersection of digital commerce, the creator economy, and community-led brands, areas where the fund has “a track record of success”.
“We see significant opportunities to scale FRND into one of Asia’s leading fashion powerhouses,” Phua added, citing the Taiwanese firm’s profitability, high repeat purchase behaviour, and scalable brand architecture.
Turn Capital’s portfolio includes Thai tech-enabled coffee chain Flash Coffee; Asia-based live streaming and social entertainment company 17LIVE; Taiwanese digital news platform NextApple; and defi firm CitaDAO, among others.
In January, the firm made a strategic investment in King’s Lynn Town Football Club, a National League North football club, to help it expand, develop, and acquire players.
