Creation of 'Shinhan Squarebridge ESG Investment Fund No.1' for Startup Development
Shinhan Financial Group Establishes Fund to Support Early-Stage Startups Linked to Startup Nurturing Platform 'Shinhan Square Bridge'
[Asia Economy Reporter Yu Je-hoon] Shinhan Financial Group announced on the 7th that it has established the 'Shinhan Squarebridge Environmental, Social, and Governance (ESG) Investment Fund No. 1' to discover and nurture startups.
The Shinhan Squarebridge ESG Investment Fund No. 1 was created to support the growth of promising early-stage startups linked to the group's startup nurturing platform, 'Shinhan Squarebridge.' This fund was established with a total of 33 billion KRW contributed by Shinhan Financial Group affiliates, and Shinhan Venture Investment (GP) is in charge of its management.
Shinhan Financial plans to continuously connect initial investments and follow-up investments tailored to the characteristics and growth stages of startups through the established fund. Through this, they aim to accelerate the establishment of an investment process covering the entire lifecycle of startups and foster unicorn companies.
This fund will invest in early-stage startups primarily in the fields of ▲deep tech ▲ICT services ▲digital healthcare, focusing on companies participating in Shinhan Squarebridge. In particular, selective investments will be made in companies that meet ESG evaluation criteria to encourage sustainable growth.
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Additionally, invested companies will be given opportunities to participate in Shinhan Squarebridge's incubation, acceleration, global scale-up programs, and member company networking. Chairman Cho Yong-byeong stated, "This fund was established to support promising startups facing difficulties due to lack of funds in the early stages of their business," adding, "After establishing this fund, Shinhan Financial will lead the expansion of the domestic venture ecosystem and the nurturing of K-unicorns through continuous support such as additional fund establishment and linkage with other funds."
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