Youngone Holdings Establishes 85 Billion KRW Overseas CVC... "Focusing on Startup Discovery"

Sung Rae-eun, CEO of Youngone Corporation./Photo by Youngone Corporation

[Asia Economy Reporter Song Seung-yoon] Youngone Holdings announced on the 13th that it will establish a Corporate Venture Capital (CVC) to make strategic investments in venture companies related to its parent company's business.

The first fund established by Youngone Holdings, 'YOH CVC,' has a total size of 85 billion KRW. Youngone Holdings has subsidiaries including Youngone Trading, an OEM company for outdoor and sportswear and equipment, and Youngone Outdoor, which sells the outdoor brand The North Face in Korea.

Youngone Holdings planned this investment to concretize the nurturing of future growth engines in the textile industry. To discover startups located in the US, Europe, and Southeast Asia, it completed the establishment of YOH CVC in Singapore in March, with 100% ownership. YOH CVC plans to make direct investments and LP contributions focusing on brands, eco-friendly and special materials, and automation sectors. In particular, it aims to pursue sustainable growth through strategic collaboration with CVC portfolio companies and the parent company, leveraging 48 years of accumulated manufacturing and technical know-how, logistics networks, and more.

Seong Rae-eun, CEO of Youngone Holdings, said, "We will not only strengthen our dominance in existing markets but also explore future business opportunities through CVC to respond to the rapidly changing industrial environment."

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