[THE INVESTOR] SK Group has injected 300 billion won (US$256.64 million) in a fund created by China’s leading venture capital firm Legend Capital, according to industry sources on Nov. 22.
SK China, the conglomerate’s Chinese holding firm, has participated as a limited partner in the US$600 million fund set up by the VC.
The fund will focus on investing in IT and health care. Utilizing Legend Capital’s network in the country, SK plans to invest in growing startups in China and across Asia.
Legend Capital is the VC subsidiary of Legend Holdings, which owns Lenovo, as well as a private equity firm Hony Capital. Since inception in 2001, the it has invested in more than 100 firms in China, with a specific focus on IT sector, managing up to US$700 million in assets.
SK China was established in 2010 in Beijing with a goal to expand the group’s investments and business in the country.
By Ahn Sung-mi (firstname.lastname@example.org)