Hankom Group Launches Global Cloud Development Fund with NBP

Focusing on Discovering North American and European Small but Strong Companies with SaaS Technology Expertise

[Asia Economy Reporter Jin-gyu Lee] Hancom Group has partnered with Naver Business Platform (NBP) to foster global cloud startups.

On the 8th, Hancom Group announced that it will launch the "Asia Connect Fund," an open-end fund with no fixed total amount, together with NBP. This fund is jointly managed by Coolidge Corner Investment and Datoz, based on the initial capital invested by Hancom Group and NBP. By the end of this year, the first closing will be conducted at a scale of 10 billion KRW through additional investor recruitment, and the second recruitment will be operated in an open-end manner in consultation with existing investors.

The Asia Connect Fund will focus on discovering promising small and medium-sized enterprises in North America and Europe that possess Software as a Service (SaaS) technology and are in the business expansion stage. Hancom Group and NBP will not only provide financial investment but also serve as strategic partners contributing to increasing corporate value by leveraging their cloud technology, management know-how, and global networks to create business synergies.

Through this fund, the plan is to support the entry of solid SaaS solutions from North America and Europe into the Asian market while simultaneously seeking to expand both companies' overseas cloud markets. Kim Yeon-su, Head of Operations at Hancom Group, stated, "By discovering startups with cloud technology, we expect not only investment returns but also to enhance both companies' technological competitiveness and expand overseas markets."

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