SBI Holdings group’s VC company, SBI Investment Korea jointly established Global Gateway Fund with US-based VC, Red Badge Management.
Redbadge is a venture capital that has track records in various industries such as healthcare, financial service, and energy. Its divisional office in Seoul, Korea is focused on investing and developing companies in Asia.
The new fund aims to invest in mainly Korean ventures that are looking to enter US. The scale of the fund will be up to 40 billion KRW (about 3.6 billion JPY) and the investing period is scheduled for 6 years. SBI Investment Korea had not set up joint fund with US-based venture capital.
SBI Group has operated venture capital business by partnering with local leading companies mainly in developing countries in Asia. While the group had worked on the business by being entrusted from Korean governmental organizations, by strengthening partnership with local private companies, the group aims to continuously support the development of industry in Korea and enlarge the fund’s revenue.
(Source: SBI Holdings )
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