Korea Investment Partners secures $60M for SEA venture fund

Korea Investment Partners (KIP), a venture capital firm, has successfully raised a staggering $60M for its venture capital fund dedicated to Southeast Asia.

Here's what you need to know about the KIP Southeast Asia (KIPSEA) Venture Fund I:

• Investors: The fund has garnered support from institutional investors across South Korea, Hong Kong, and Singapore. Some backers include Samsung Life Insurance, Korea Development Bank, Korea Growth Investment Corporation, D.camp, Woomi Global, Mirana Ventures, and Korea Investment & Securities Asia.

• Investment Focus: The fund aims to support high-growth technology startups in Southeast Asia, from seed to Series B. A smaller portion of the fund is earmarked for South Korean tech firms eager to broaden their reach within the region. The fund will concentrate on fintech, proptech, and enterprise software sectors.

• About KIP: Established in 1986, KIP has become a significant player in the South Korean venture capital scene with over 900 investments. The firm manages over $3B in assets, with high-profile portfolio companies like Kakao, Naver, YG Entertainment (all South Korea), Halodoc (Indonesia), and Tiki.vn (Vietnam). KIP is a subsidiary of Korea Investment Holdings, a publicly traded financial conglomerate with a diverse range of financial services.

• KIP’s Southeast Asia Presence: KIP first made inroads into Southeast Asia in 2018, launching the GEC-KIP Technology and Innovation Fund with Singapore as its regional headquarters. The firm has been actively investing in promising startups within the region ever since.

KIP intends to leverage its robust network and ecosystem strength to identify and foster early-stage, high-potential, and category-defining companies across Southeast Asia, according to Synclare Kim, Head of KIPSEA.