IBK, First Conditional Equity Investment Contract... Developer of 'Hwan-gi Cheong-jeong' Product
[Asia Economy Reporter Kiho Sung] IBK Industrial Bank announced on the 2nd that it has selected CA Lab as the first investment target for its Simple Agreement for Future Equity (SAFE) and completed the investment.
Introduced in Korea last August through the revision of the Venture Investment Promotion Act, SAFE is an investment method from Silicon Valley in the United States. It is an innovative investment system that prioritizes investment in early-stage startups with difficult-to-assess valuations, and determines the investor's equity based on the company valuation decided in subsequent investments.
CA Lab, the first SAFE investment target of IBK Industrial Bank, is a company developing ventilation and purification products based on air quality prediction simulation and proprietary filter design. It was selected as an innovative company in the first half of this year under the ‘IBK Changgong’ startup incubation program and is receiving support.
CA Lab plans to use the investment funds for company operations and new product and technology development.
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An IBK Industrial Bank official stated, “As our advertising slogan says, ‘For companies the world has not yet recognized,’ we plan to continue supporting the growth of innovative companies through prompt SAFE investments in early-stage startups with high technological capability and growth potential but difficult valuation.”
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