GS Establishes Venture Capital 'GS Ventures'... First Domestic Holding Company to Do So
[Asia Economy Reporter Kim Daehyun] GS announced on the 7th that it has established a CVC, 'GS Ventures,' as a 100% subsidiary.
GS Ventures is the first corporate venture capital (CVC) established by a domestic holding company. A CVC refers to a venture capital (VC) funded by a general company for financial and strategic purposes to invest in venture companies.
GS Ventures has a capital of 10 billion KRW, and the inaugural CEO is Vice President Heo Jun-nyeong.
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Heo Tae-su, Chairman of the GS Group, outlined a management policy in this year's New Year's address, anticipating continued uncertainty and emphasizing the need to expand the business ecosystem. The business ecosystem refers to expanding exchanges and cooperative relationships in various ways, including group affiliates, external startups, venture capitals, private equity funds, and competitive companies, to create conditions for more agile responses in crisis situations.
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