Venture capital firm Capstone Partners said on June 17 it has set up a 50 billion won ($42 million) fund that will focus on the “fourth industrial revolution.
The fund has been established in tandem with the Seoul City government and Korea Growth Investment Corp and Korea Telecommunications Operations Association. About 80 percent of the fund will be directed to companies with high technologies related to the fourth industrial revolution with 26 billion won to be invested in technologies such as 5G services, artificial intelligence, blockchain and big data, the company said.
More than 10 billion won is expected to be invested in Seoul-based hi-tech companies
“In the past decade, we have focused on ICT companies which occupy 80 percent of our portfolio, so we have the expertise,” a company official said.
“Our goal for this fund is not only to achieve high returns in the fourth industrial revolution era but also to boost the startup ecosystem.”
By Park Ga-young (gypark@heraldcorp.com)