Shinhan Financial Group and Global Brain Form Joint Venture Fund to Invest in Korean and Japanese Startups
Shinhan Financial Group held a launch ceremony for the “Shinhan-GB FutureFlow Fund,” the first joint venture fund between South Korea and Japan, at the Minato Ward Industrial Promotion Center in Tokyo, Japan on the morning of April 4.
The “Shinhan-GB FutureFlow Fund” will be established with approximately 5 billion yen and will be jointly managed by Shinhan Venture Investment, a subsidiary of Shinhan Financial Group, and Global Brain, a Japanese venture capital firm.
The two companies plan to discover and invest in startups from both countries with innovative technologies such as AI, deep tech, and SaaS (software as a service), as well as global expansion capabilities, through Shinhan Financial’s startup accelerator program “Shinhan Futures Lab Japan” and Global Brain’s incubation program “Xlimit.”
The launch ceremony was attended by key figures from the Korean and Japanese financial sectors, including Financial Services Commission Chairman Kim Joo-hyun, Korea Federation of Banks Chairman Kim Kwang-soo, Shinhan Financial Group Vice President Kim Myung-hee, SBJ President Tomiya Seiichiro, Shinhan Venture Investment CEO Lee Dong-hyun, Kiraboshi Bank Senior Managing Director Nobuta Satoru, the Japanese Financial Services Agency, JETRO (Japan External Trade Organization), Minato Ward, and LP partners such as Kiraboshi Financial Group, KT, and Dcamp.
Global Brain CEO Yuji Motoyasu said, “Global Brain has been investing in Korean startups such as Dunamu, Zigbang, and Channel Corporation,” and “We will help startups from both countries to fully unleash their entrepreneurial spirit by leveraging Global Brain’s network of over 300 Japanese companies.”
Shinhan Venture Investment CEO Lee Dong-hyun said, “Shinhan Venture Investment has been constantly considering ways to promote exchanges and cooperation between South Korea and Japan in various fields,” and “We will make every effort to discover and invest in startups with a strong sense of responsibility, as this is the first project that the two countries have jointly undertaken.”
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