IBK Venture Investment Forms First Fund of 100 Billion KRW Scale... Executes First Investment

IBK Venture Investment announced on the 18th that it has successfully completed the formation of its first fund totaling 100 billion KRW and has made its first investment.

According to IBK Venture Investment, both funds formed this time were selected in the “Startup Korea Fund” ultra-gap sectors. They established a consortium (Co-GP) with FuturePlay and Kolon Investment, respectively. The VC industry expects this fund formation to play a key role in revitalizing the venture investment market.

The two funds have different investment targets depending on the growth stage. The “Startup Korea IBKVC-FP 2024 Fund (hereinafter Early Fund)” supports early-stage startups focusing on idea discovery and technology verification, while the “Startup Korea IBKVC-Kolon 2024 Fund (hereinafter Later Stage Fund)” invests in companies that are scaling up technology firms and preparing for global expansion.

This fund management strategy is explained by the company as a move that well reflects IBK Venture Investment’s founding purpose of supporting early startups to overcome the valley of death and leap into global companies.

The main investment targets of the two funds are small and venture companies engaged in the ten ultra-gap sectors: ▲system semiconductors ▲bio-health ▲future mobility ▲eco-friendly energy ▲robots ▲big data and artificial intelligence (AI) ▲cybersecurity and networks ▲aerospace and marine ▲next-generation nuclear power ▲quantum technology, or companies selected by the government’s “Ultra-Gap Startup 1000+ Project.”

IBK Venture Investment selected ▲Idea Ocean (1 billion KRW, Early Fund), ▲Marine Drone Technology (1 billion KRW, Early Fund), and ▲IG (2 billion KRW, Later Stage Fund) as its first investment targets. Idea Ocean is the world’s first company to commercialize AI generative design solutions in the field of mechanical design. Its potential to expand into various industrial sectors such as robotics and mobility is considered a key investment point.

Marine Drone Technology provides tuna school detection and maritime delivery drone services. Securing top-tier customers and partners to establish a stable revenue structure and laying the foundation for global expansion are highlighted as investment points. IG provides job training solutions related to new technologies such as smart factories. The increasing proportion of sales related to profitable products and digital technology education content, showing growth in both sales and profits, is considered an investment point.

IBK Venture Investment plans to expand its investment targets across various industrial sectors starting with this first investment. CEO Cho Hyo-seung stated, “Through the two formed funds, we will supply capital to future growth sectors and actively support the innovative growth of deep tech companies to contribute to the revitalization of the domestic economy.”