IBK Industrial Bank, Q3 Venture Capital Supply Performance of 441.7 Billion Won

Driving Innovative Growth in Early-Stage Startups

[Asia Economy Reporter Kim Jin-ho] IBK Industrial Bank announced on the 10th that it recorded a venture capital supply amount of 441.7 billion KRW as of the third quarter of this year, more than double the supply amount of 210.7 billion KRW in the same period last year.

In particular, in line with the determination of President Yoon Jong-won, who has emphasized support for early-stage startups, the bank is increasing the proportion of support for companies established within three years, which carry higher risks, thereby transforming its supply structure. In addition, beyond simple funding, it is combining various support measures such as technology finance and consulting to reduce the failure rate of early-stage startups and drive rapid growth.

In fact, Basplex, Korea's first catheter specialized company possessing medical compression technology, was selected as a nurturing company in IBK's startup fostering platform ‘IBK Changgong’ and received equity investment worth 500 million KRW on the 25th.

President Yoon said, “As a policy financial institution, we plan to proactively support the early startup market, which is a neglected area in the venture market,” adding, “The profits generated from venture capital supply will be used to support early-stage startups in the future to complete a virtuous cycle system of venture capital supply.”

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