SoftBank Ventures Asia, now SBVA, Establishes KRW 200B ($150M) Korea Venture Fund
SoftBank Ventures Asia is officially rebranding as SBVA, effective February 1st, following its acquisition by The Edgeof from SoftBank Group Corp. (SBG) in June of the previous year.
The new SBVA aligns with the concept of technological singularities and the broader implications of artificial intelligence virtues, showcasing its commitment to leadership in this transformative era.
This name change also underscores the continuity of its business both domestically and internationally, emphasizing its enduring connections with partners, infrastructure, and portfolio companies cultivated over the past two decades. SBVA is actively poised to identify startups that will revolutionize various industries through innovative technology, building on its expertise in ICT investments.
Recently, SBVA successfully closed the “2023 Alpha Korea Fund” with a total committed amount of approximately ₩200 billion ($150M), surpassing the initial target of ₩100 billion. This achievement underscores the significance of exceeding fundraising goals, especially in a market downturn.
Investors (LP) in this fund include Korea Development Bank(KDB) as the anchor LP, SBG, Hanwha Life, Industrial Bank of Korea, Nexon, KB Capital, and others.
Through this fund, SBVA aims to actively discover early to mid-stage startups capitalizing on technological innovations in ICT, such as artificial intelligence (AI), robotics, and computing, to create new business opportunities. Key investment areas across industries include Enterprise Software, Healthcare, Content, and Industrial Deep Tech.
In the future, SBVA plans to robustly support the international expansion of domestic startups, leveraging its global investment capabilities and network.
JP (JoonyPyo) Lee, the CEO of SBVA, stated, “Despite the venture investment winter, we successfully established 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.”
Yoshimitsu Goto, the CFO of SBG, expressed, “We are delighted that SBVA, with its expertise and network in the startup investment business for more than 20 years, is making a new start with The Edgeof, an ecosystem builder and venture capital entity. As an LP, we are excited to join the first fund established by the new SBVA.”
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