[THE INVESTOR] SoftBank Ventures Korea, a wholly owned subsidiary of the Japanese conglomerate devoted to early-stage investments, announced a name change on Jan. 3.
The firm has been rechristened SoftBank Ventures Asia in line with a shift in focus from Korea to global markets, since it was launched here in 2000. Its investments range from startups in Korea, the US, China and Israel, as well as countries in the European Union and Southeast Asia.
With over US$1.10 billion assets under management, the company has invested in over 250 companies across 10 countries with a focus on startups dedicated to artificial intelligence, Internet of Things and robotics. They include Indonesian financial service startup Tokopedia, US AI chip company Mythic and video communication service operator Hyperconnect, known for its flagship service Azar.
“I am excited with the opportunity to enhance our presence in early-stage investments and look forward to backing passionate entrepreneurs with bold and life-changing ideas,” said SoftBank Ventures Asia CEO and Managing Partner Lee Joon-pyo.
“Our vision is to support promising young entrepreneurs by offering unparalleled access to SoftBank’s community, resources and network.”
The firm operates teams in Seoul, Beijing, San Francisco and Tel Aviv, while seeking to expand its presence in Singapore and Shanghai.
By Son Ji-hyoung (email@example.com)