HomeSouth KoreaSoftBank Ventures Asia Rebrands SBVA

SoftBank Ventures Asia Rebrands SBVA

SoftBank Ventures Asia, a Seoul, South Korea-based investment firm, is officially changing its name to SBVA from beginning of February 1st after The Edgeof acquired the company from SoftBank Group Corp.(SBG) in June of last year.

The new SBVA has recently closed the “2023 Alpha Korea Fund,” with a total committed amount of approximately ₩200 Billion ($150M). LPs included Korea Development Bank(KDB) as the anchor LP, SBG, Hanwha Life, Industrial Bank of Korea(IBK), Nexon, KB Capital and others.

SBVA, through this fund, aims to actively discover early to mid-stage startups that capitalize on technological innovations in ICT, such as artificial intelligence (AI), robotics, and computing, and create new business opportunities. Investment areas across industries included Enterprise SW, Healthcare, Content and Industrial Deep Tech.

Moving forward, SBVA plans to extensively support the international expansion of domestic startups leveraging its global investment capabilities and network.

Commenting on the news, JP (JoonyPyo) Lee, CEO, said: “Despite the venture investment winter, we were able to successfully conclude the establishment of this fund based on the trust of our investors. We will continue to actively engage in investment activities by closely listening to the concerns of entrepreneurs.”

VCWire

29/01/2024