IBK Industrial Bank, Establishes Strategic Investment Fund Worth 100 Billion KRW
Investment in Companies with Digital Innovation Technologies such as AI and Big Data
Strategic Collaboration with Innovation Technology Companies... Building a Win-Win Digital Ecosystem
IBK Industrial Bank announced on the 25th that it has established a strategic investment (SI) fund called the ‘IBK Digital Innovation New Technology Investment Association’ to discover and nurture companies possessing digital innovation technologies.
The fund is worth a total of 100 billion KRW, with Industrial Bank contributing 90 billion KRW and IBK Capital investing 10 billion KRW. IBK Capital, which specializes in investing in small and venture companies, will manage the fund as the general partner (GP).
The main investment targets are companies with digital innovation technologies such as artificial intelligence (AI) and big data that can strategically collaborate with Industrial Bank, as well as platform companies with differentiated business models that have high growth potential.
Through this fund, Industrial Bank plans to discover new digital businesses that will become the bank’s future growth engines and build a mutually beneficial digital ecosystem where the bank and innovative technology companies grow together.
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An Industrial Bank official stated, “We plan to actively invest in companies with excellent technological capabilities to serve as a catalyst for the frozen venture market by nurturing innovative companies,” adding, “We will further accelerate Industrial Bank’s digital innovation through strategic collaboration with invested companies.”
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