[Asia Economy Reporter Lee Jung-yoon] Kyobo Securities announced on the 19th that it has established a Southeast Asia Digital Innovation Fund to invest in overseas digital innovation startups.
The fund is a corporate structure investment fund newly established under Singapore's Variable Capital Company (VCC) system, with a target fund size managed between a minimum of 50 million dollars and a maximum of 75 million dollars, and an investment period of 5 years.
Kyobo Securities, along with SBI Ven Capital, which handles Southeast Asia investments for Japan's SBI Holdings, and NTUitive, a subsidiary of Nanyang Technological University (NTU) in Singapore, operate the fund as joint general partners.
The three partners, including Kyobo Securities, plan to expand support for the growth of investee companies aiming to revitalize the Southeast Asian digital economy through operational expertise and extensive industry networks.
The investment targets are early-stage startups located in Southeast Asia countries such as Singapore, Indonesia, Malaysia, Thailand, the Philippines, and Vietnam, as well as India and Bangladesh. The fund mainly invests in technology-centered innovative startups in fintech, healthcare, logistics, education, and food services.
Shin Hee-jin, Director of the VC Business Division at Kyobo Securities, said, "Southeast Asia is a favorable environment for digital transformation due to the growth of the middle class and the internet economy, and it is expected to create up to 625 billion dollars in economic added value by 2030." He added, "We will share the operational know-how and networks of our partner companies to ensure successful investments."
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