Woori Financial Capital to Establish Digital Investment Fund Worth 200 Billion KRW
[Asia Economy Reporter Buaeri] Woori Financial Group's subsidiary, Woori Financial Capital, announced on the 25th that it is promoting the establishment of a digital investment fund worth 200 billion KRW to discover and nurture digital innovation companies.
Major subsidiaries of the group participated to form the first fund worth 50 billion KRW.
In this first fund formation, Woori Financial Capital, which holds a new technology business finance license, is in charge of fund management (GP), and major subsidiaries such as Woori Bank and Woori Card participated as investors (LP).
Considering future investment strategies and objectives, the fund will be continuously launched in series up to a total scale of 200 billion KRW to expand investment resources.
Earlier, Woori Financial Capital established a venture investment team dedicated to fund management in the first half of this year and secured professional personnel.
The newly formed fund plans to mainly invest in domestic startups with excellent digital technologies such as artificial intelligence (AI), big data, blockchain, and insurtech.
The company stated that through collaboration with external innovative companies, it expects to secure future growth engines for group companies such as Woori Bank and contribute to the creation of a digital ecosystem.
Woori Financial Capital plans to link the 'Dino Lab,' Woori Financial Group's digital startup nurturing program, with Woori Bank's direct investment program for innovative venture companies to provide support and investment as well as collaboration with group companies.
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A Woori Financial Capital official said, "Through the fund, we plan to invest in excellent innovative companies in the digital field and promote partnership-based collaboration," adding, "We will develop various business models to lead the convergence finance era and use them as a foothold for future growth."
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