HB Investment Forms HB Digital Innovation Growth Fund No. 2 with 37 Billion KRW 규모

HB Inbe and Samsung Securities PDS Team Join Forces
Plan to Increase to 50 Billion KRW

[Asia Economy Reporter Kwangho Lee] HB Investment announced on the 22nd that it has established the HB Digital Innovation Growth Fund No. 2 worth 37 billion KRW. The goal is to increase the fund size up to 50 billion KRW, reflecting additional demand.

Samsung Securities participated as a major limited partner (LP) in this fund. The fund was raised solely with private investors without any policy funds such as the Korea Fund of Funds.

The lead fund manager is Executive Director Seonghwan Bae. CEO Yuseon Hwang of HB Investment, CEO Hajin Park, and Team Leader Younghoon Ko are participating as key operators.

Earlier, SureSoftTech, which was included in the first fund, pursued a SPAC (Special Purpose Acquisition Company) merger just six months after HB Investment invested. All the other 11 companies included in the first fund, such as Jarvis & Villains and Ppodeuk, have shown growth in performance and corporate value.

A representative from Samsung Securities’ PDS (Private Deal Sourcing) team said, "HB Investment has proven its management capabilities through the performance of the first fund. The second fund offers investor-friendly conditions, reflecting the difficult market situation and high interest rates."

HB Investment is a first-generation venture capital firm in South Korea, established in 1999 with 23 years of experience. As of the end of 2022, it manages assets worth approximately 537.4 billion KRW. Companies it has invested in, such as HPSP, Krafton, Bioplus, Vuno, Anyplus, Aptabio, and Bridge Biotherapeutics, have successfully gone public, achieving a multiple of over 4 times in returns.

This content was produced with the assistance of AI translation services.