KB Financial Group Establishes 'KB Digital Platform Fund' for Co-Growth with Digital Companies
Formation of a 300 Billion KRW Strategic Investment (SI) Fund
Investing in Digital and Platform Companies with Innovative Technologies
[Asia Economy Reporter Park Sun-mi] KB Financial Group announced on the 30th that it has established the KB Digital Platform Fund, the group's strategic investment (SI) fund, to invest in innovative technology and digital platform companies.
Formed as a venture investment partnership, this fund is worth a total of 300 billion KRW, with the main investment targets being domestic and international digital platform companies. KB Financial plans to accelerate its number one financial platform strategy through strategic alliances with the invested companies.
This fund will be jointly managed (GP) by KB Investment, which has extensive venture capital investment experience, and KB Securities, which has shown outstanding performance in ECM, DCM, and corporate finance. Numerous affiliates including KB Kookmin Bank, KB Insurance, KB Kookmin Card, Prudential Life Insurance, KB Capital, and KB Life Insurance will participate as limited partners (LPs).
Through the establishment of this fund, KB Financial Group plans to accelerate investments in digital companies possessing innovative technologies such as artificial intelligence (AI), big data, metaverse, digital assets, and software, as well as platform companies with innovative business models and MZ generation customer bases. In particular, the group aims to actively discover and nurture companies that can collaborate with its affiliates to build a digital ecosystem, secure innovative technologies and MZ generation customers, expand business areas, and solidify digital leadership.
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A KB Financial Group official said, “We expect the KB Digital Platform Fund being established this time to strengthen partnerships between KB Financial and promising technology companies,” adding, “Through a virtuous cycle structure that activates the digital ecosystem and enhances the number one financial platform capabilities, we will achieve mutual win-win and grow together.”
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