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Biz News Korea(Eng)
Korea Investment Partners ventures into Silicon Valley
- Collected
- 2017.02.01
- Distributed
- 2017.02.02
- Source
- Go Direct
According to investment banking industry Monday, Korea Investment Partners will open its U.S. office in Silicon Valley in March and search for IT startups to invest in. The firm plans to act as their angel fund to help them grow to reap returns in their expansion.
The fund has earned confidence to venture out from a series of business successes at home. It invested 5 billion won ($4.3 million) in startup Kakao Corp. in 2011 and earned 16 times more. It established the nation’s first Internet bank - Kakao Bank - jointly with Kakao and others to start service later this year.
Korea Investment Partners has invested 269.2 billion won in 92 venture firms including YG Entertainment, ActionSquare and DoubleU Games and made big money when they went public. Its average internal rate of return (IRR) on investments since 2001 averaged 17.6 percent.
By Hong Jang-won
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