Korea Investment Partners Southeast Asia (KIPSEA), a Singapore-based team of Korea Investment Partners (KIP) has successfully closed $60 million for its first flagship Southeast Asia venture capital fund.
KIP Southeast Asia Venture Fund I has attracted contributions from institutional investors from South Korea, Hong Kong and Singapore, including Samsung Life Insurance, Korea Development Bank, Korea Growth Investment Corporation, D.camp, Woomi Global, Mirana Ventures and Korea Investment & Securities Asia.
Revitalising investments in South Korea
As per reports, the landscape of venture investment in South Korea has witnessed a drastic shift in the first half of this year, with investment levels showing a significant decline of 42% compared to the same period of the previous year. The Korean Ministry of SMEs and Startups is focusing on revitalising venture investment. Apparently, the investments in South Korean startups are increasing with many from the region pumping funds into these companies. The latest one from South Korea is KIPSEA.
KIP Southeast Asia Venture Fund I
Incorporated in 1986, KIP is a subsidiary of publicly-listed Korea Investment Holdings, a financial conglomerate with multiple financial verticals including securities, asset management, banking, credit finance, private equity, and real estate.
The fund will be dedicated to investing in Seed to Series B, high-growth technology startups in Southeast Asia, with a small proportion reserved for South Korean companies looking to expand into the region, and will be focusing on sectors such as fintech, proptech, and enterprise software.
With over $3 billion in assets under management, it has invested in over 900 companies. Some of its notable portfolio companies include Kakao, Naver, and YG Entertainment from South Korea, and Halodoc and Tiki.vn from Indonesia and Vietnam respectively.
Synclare Kim, Head of KIPSEA, said: “Underpinned by strong macroeconomic factors and the development of technological and digital capabilities within the region, Southeast Asia remains a key target market for KIP. We target to utilise KIP’s strategic networks and the strength of its ecosystem to identify and nurture early-stage, high potential and category-defining companies across the region.”
