South Korean SK Networks, through its US affiliate, which has expanded direct and indirect investments in early-stage companies home and abroad, formed a joint fund in partnership with Bow Capital, a global venture investment firm.
This joint fund was formed by Hico Management in collaboration with Bow Capital Management. Hico Management is an investment management subsidiary of Hico Capital that leads SK Networks’ operation in the U.S. The two management firms closed the first round at the end of last year with the participation of external investors. A final round is scheduled to be completed soon.
The vehicle will focus on investing in early-stage tech startups in the field of AI, Web3, Digital Transformation (DT), healthcare.
The joint fund 1st closing ceremony, held on January 31 at Walkerhill Wavehill, was attended by Samuel Kim, Managing Director of Hico Management, and Vivek Ranadivé, Managing Director of Bow Capital and owner of the Sacramento Kings, among other representatives from both companies. Sunghwan Choi, SK Networks President & COO, also attended. Before this, on January 30, President Sunghwan Choi and Managing Director Ranadivé signed a MOU for the ‘SK Networks Renaissance Project’ and expressed to strengthen their cooperation.