SBVA Launches $150M Korea Venture Fund, Surpasses Fundraising Goals
SBVA, formerly SoftBank Ventures Asia, announces its rebranding and establishes a new $150M Korea Venture Fund, surpassing fundraising goals. Led by Korea Development Bank and other major investors, the fund aims to support early to mid-stage startups leveraging technological innovations like AI and robotics.
With a focus on industries like Enterprise SW, Healthcare, and Industrial Deep Tech, SBVA plans to facilitate the international expansion of domestic startups.
CEO JP Lee expresses confidence in investment activities despite market challenges, while SBG CFO Yoshimitsu Goto highlights excitement about SBVA’s partnership with The Edgeof.
According to JP(JoonyPyo) Lee, the CEO of SBVA, “Despite the venture investment winter, we were able to successfully conclude the establishment of this fund based on the trust of our investors. We will continue to actively engage in investment activities by closely listening to the concerns of entrepreneurs.”
Yoshimitsu Goto, the CFO of SBG stated, “We are delighted that SBVA that has expertise and network of the startup investment business for more than 20 years will make the new start with The Edgeof, an ecosystem builder and venture capital entity. As a LP, we are excited to join the first fund that the new SBVA has established.”
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