KB Kookmin Card Forms Strategic Fund Worth 13 Billion KRW to Support Venture and Startup Investments
Published 28 Jun.2021 10:00(KST)
Selected as an Outstanding Mentor Company for the Mentor Company Matching Investment Project
50 Billion KRW Invested by the Korea Fund of Funds
[Asia Economy Reporter Ki Ha-young] KB Kookmin Card announced on the 28th that it will establish a strategic fund worth 13 billion KRW to provide professional investment and support for companies participating in the startup discovery and nurturing program 'FUTURE9,' promising venture companies, and startups.
The fund to be established this time is characterized by utilizing the 'Mentor Company Matching Investment Project,' where the government invests the same amount through the Korea Fund of Funds when a mentor company invests in a fund to support startups, aiming to strengthen collaboration and investment support between large corporations and startups.
Scheduled to be established at the end of August, the 'Smart Korea KB FUTURE9 Venture Fund (tentative name)' will have KB Kookmin Card and Korea Venture Investment Corp., the Korea Fund of Funds, each investing 5 billion KRW, with Sejong Venture Partners and affiliated companies investing 3 billion KRW. Sejong Venture Partners, the fund management company, will serve as the general partner (GP).
The fund's main investment targets include FUTURE9 participant companies, ▲ founders in non-face-to-face sectors such as smart healthcare, smart finance, and online education ▲ technology innovation-type and management innovation-type small and medium enterprises ▲ venture companies, with primary investments planned for FUTURE9 participant companies and excellent collaboration companies of KB Kookmin Card.
A KB Kookmin Card official said, "With the establishment of this fund, investment support activities that will serve as a foundation for the growth of FUTURE9 participant companies and promising startups are expected to be strengthened and specialized," adding, "We hope that many startups dreaming of becoming future unicorn companies will show interest and participate in the FUTURE9 program, which is creating a success story of collaboration based on years of accumulated know-how and differentiated support programs."
Meanwhile, KB Kookmin Card is recruiting participants for the 5th FUTURE9 program, which discovers and collaborates with startups leading future lifestyle innovation in nine areas including trends, human tech, and lifestyle, until the end of this month.
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