KB Financial Group Manages 250 Billion KRW Fund to Foster Next-Generation Unicorn Companies

KB Financial Group announced on the 31st that it will manage the 'KB Global Platform Fund No. 2' with a scale of 250 billion KRW. This fund aims to identify promising startups both domestically and internationally at an early stage and support their growth into next-generation unicorn companies (unlisted companies valued at over 1 billion USD).

The 'KB Global Platform Fund No. 2' is established with major affiliates of KB Financial Group, including KB Kookmin Bank, KB Securities, KB Insurance, KB Kookmin Card, and KB Capital, contributing approximately 200 billion KRW, while five affiliates of the Kolmar Group, as global strategic partners, contribute about 50 billion KRW.

The primary investment targets of the fund are startups in Southeast Asia and India, as well as U.S. bio and healthcare startups. Up to 30% of the fund's operating resources will also be allocated to promising domestic startups. KB Investment will be responsible for managing the fund.

In 2019, KB Financial Group’s major affiliates participated in establishing and managing the 'KB Global Platform Fund No. 1' with a scale of approximately 220 billion KRW. The fund invested in and supported various startups in Southeast Asia, including Grab, known as the 'Southeast Asian Uber,' as well as used car brokerage platforms, Buy Now Pay Later (BNPL) services, and insurtech companies.

The 'KB Global Platform Fund No. 2' will be jointly managed by Yoo Jeong-ho, Managing Director of the Global Investment Group at KB Investment, and Kook Chan-woo, Managing Director of the Bio Investment Group at KB Investment.

A KB Financial Group official stated, "We will actively discover promising startups both domestically and internationally and take the lead in supporting these companies to grow into next-generation unicorns."

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