IDG Capital and SMBA Create $ 910 million USD Korean Venture Fund
2월 16, 2015

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The Korean SMBA (Small and Medium Business Administration) agreed to establish a fund , ‘Korean Venture Fund(tentative name ‘Korea Fund’)’ IDG Capital(CEO Xiaoge Xiong), China’s second place venture capital. This fund is as much as $ 910 million USD.

After the Korea-China FTA negotiation settlement, small and medium businesses’ interest in entering the Chinese market is increasing tremendously. Amongst this hype, SMBA has brought in ‘China IDG Capital’ which has the know-how of nurturing more than ten number one Chinese companies such as Tencent and Baidu. SMBA selected IDG as the best partner to successfully lead Korean companies into the Chinese market.

This year’s venture fund is  $ 910 million USD, 40% coming from fund of funds and 60% from China IDG Capital and other foreign investors.

Guo-Yi Hong and other representatives of China IDG Capital will directly find and mandatorily invest more than 60% in Korean companies, and focus their investments in TMT, contents, healthcare, bio, clean tech and the gaming industry.

Also, China’s IDG Capital will connect Korean and Chinese business they invested in to create synergy and grow. Another strategy is to IPO in the Chinese, US, Hong Kong stock market or M&A with other global businesses.

At the event, China IDG Capital’s Guo-Yi Hong co-representative said “Korea’s contents, game, bio and other industries have competitiveness. Therefore, we are positive that when connected with relevant Chinese businesses, those Korean companies will grow and have a larger share in the market.” He added, “This is a great opportunity for IDG Capital as well, to meet Korean companies with potential, and would like to make a success story of discovering promising Korean companies and help them enter the Korean market.”

 

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