KB Kookmin Card Forms 13 Billion Venture Fund to Support Startup Growth

KB Kookmin Card announced on the 1st that it held the formation general meeting for the official launch of the 'Smart Korea KB Future Nine-Sejong Venture Fund' worth 13 billion KRW.

[Asia Economy Reporter Oh Hyung-gil] KB Kookmin Card announced on the 1st that it held the formation general meeting for the official launch of the 'Smart Korea KB Future Nine-Sejong Venture Fund' worth 13 billion KRW.

This fund utilized the mentor company matching investment project, where the government invests the same amount through the Korea Fund of Funds when a mentor company contributes to a fund supporting startups.

KB Kookmin Card and Korea Venture Investment Corp., the Korea Fund of Funds, each invested 5 billion KRW, while Sejong Venture Partners and its affiliated companies invested 3 billion KRW, participating as limited partners (LPs). Sejong Venture Partners, the fund management company, serves as the general partner (GP).

Investments will be made mainly in companies participating in the Future Nine program, KB Kookmin Card's startup discovery and nurturing program, and other outstanding companies. The main investment targets are startups in non-face-to-face sectors such as smart healthcare, smart finance, and online education, as well as technology-innovative and management-innovative small and medium enterprises and venture companies.

A KB Kookmin Card official stated, "We will continue to support and invest in the growth of startups centered on the Future Nine program without change."

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