IBK, 163.6 Billion KRW New Deal & ESG Unicorn Private Equity Fund Established

Support for Korean New Deal Industry Companies and ESG Management Practicing Companies to Become Unicorns

[Asia Economy Reporter Park Sun-mi]IBK Industrial Bank announced on the 9th that it has established the ‘IBK-Stonebridge New Deal ESG Unicorn Private Equity Fund (PEF)’ to support Korean New Deal industry companies and ESG (Environmental, Social, and Governance) management practice companies in their leap to unicorn status.

The ‘IBK-Stonebridge New Deal ESG Unicorn Private Equity Fund,’ totaling 163.6 billion KRW, will have multiple institutional investors such as Korea Growth Investment Corporation, KDB Industrial Bank, and Korea Export-Import Bank participating as limited partners (LPs), and will be co-managed by IBK Industrial Bank and Stonebridge Ventures.

This fund was formed for policy-type New Deal sectors and global ESG investments, aiming to support the growth of New Deal industries and ESG value-oriented companies. The main investment targets include the six core New Deal projects: D.N.A (Data, Network, AI), smart healthcare, knowledge services, advanced manufacturing, and it also plans to invest in ESG-related industries such as energy, next-generation power devices, and eco-friendly consumer goods.

An IBK Industrial Bank official stated, “By supplying venture capital, we will discover and support new growth engines and play a catalyst role in revitalizing the Korean New Deal projects,” adding, “We also plan to contribute to creating a New Deal industry ecosystem in line with the government’s carbon neutrality declaration and Green New Deal policy.”