Zigbang Establishes Venture Capital... "Seeking Promising Proptech Startups"

Fundraising of 20 Billion KRW to Foster Growth in the PropTech Industry

[Asia Economy Reporter Onyu Lim] Zigbang is making efforts to discover promising proptech (a combination of real estate and technology) startups. On the 16th, Zigbang announced that it has established a venture capital firm called Breeze Investment. It received approval as a startup investment company from the Ministry of SMEs and Startups on December 23 last year and plans to raise a fund worth 20 billion KRW.

Breeze Investment is a corporate-led venture capital specializing in IT investments focused on proptech. Amid active startup investments recently, it plans to take the lead in forming a proptech ecosystem by discovering and investing in various companies with high growth potential in the proptech sector.

The fund established by Breeze Investment is named 'PWF,' symbolizing the commitment to nurturing proptech companies. The investment amount of 20 billion KRW was contributed equally by Zigbang and Woomi Construction, each investing 10 billion KRW. Woomi Construction joined the fund formation in agreement with Zigbang's determination to foster the proptech industry and to help grow venture companies.

Breeze Investment invests in companies across various proptech fields such as the Internet of Things (IoT), big data, artificial intelligence (AI), virtual reality (VR), fintech, and blockchain. Furthermore, it plans to provide systematic support including follow-up investments and connecting cooperative projects.

Park Jae-moo, a director at Zigbang, was appointed as the head of Breeze Investment. CEO Park has a background at BlueRun Ventures, a Silicon Valley VC in the United States, and has accumulated diverse investment experience working at Angang Venture Investment, One & Partners, among others. Notable investment achievements include game developer Pearl Abyss (IPO), game publisher Entermate (IPO), aircraft parts manufacturer Samco (IPO), and developer Vision Bros (M&A). Zigbang expressed expectations that "through CEO Park's extensive work experience and know-how, Breeze Investment will carry out strategic investments."

CEO Park said, “Breeze Investment will create a platform where domestic proptech and venture companies can grow together. Rather than simple financial investment, we will build relationships from the company's perspective and act as partners supporting the long journey toward business success.”

This content was produced with the assistance of AI translation services.