SparkLabs Korea, a Seoul, South Korea-based startup accelerator and early-stage investor, has launched a venture capital fund.
The first close of SparkLabs DeepTech was $15m will focus on seed and series A stage companies in South Korea.
SparkLabs Korea defines “deeptech” to include artificial intelligence, biotech, spacetech, smart cities, AR/VR, quantum computing, and advanced materials.
The fund is led by Eugene Kim, a Managing Partner at SparkLabs Korea. Also Daniel Kim, a Director of Engineering at Meta (formerly Facebook), joins this fund as a Venture Partner.
Kim is an Engineering Director at Meta (formerly Facebook), which he joined in early 2007 as employee within the first 225 hires, and is currently the 11th most tenured employee. Most recently, Kim was the lead for NPE (New Product Experimentation) Korea, which is Meta’s in-house incubator and a key part of their global expansion strategy.
Prior to this role, he led engineering teams at Oculus, where his teams were in charge of things such as Horizon Home, Guardian, Anytime UI, and others. At Instagram, Kim founded and led their growth engineering team, which was directly accountable for Instagram’s user growth from 170 million to 1.1 billion MAU (monthly active users) in under five years. As an engineer, he was a founding member of Facebook’s Android team and helped to usher Facebook’s pivot to mobile in 2010.
SparkLabs Korea is a startup accelerator and venture capital fund founded by entrepreneurs for entrepreneurs in South Korea. The focus is on startup companies from the Internet, online gaming, mobile, ecommerce, digital media, enterprise software and healthcare sectors. The mentorship-driven program is four months in length and provides funding, office space, a structure program and access to a top-tier network of entrepreneurs, venture capitalists, angel investors and executives.