SparkLabs launches $50m Korea, SE Asia venture fund

Anchor investors include SeAH Group and Korea Development Bank. The fund, known as SparkLabs Ventures, will concentrate on companies with potential for international expansion.

SparkLabs Global, which operates a network of accelerators across Asia and the US, will leverage its international footprint to support portfolio company expansion efforts. However, investments will not be limited to the firm’s existing accelerator programs.

Brian Kang, formerly of Samsung Ventures and Korea Venture Fund, will be the fund’s managing partner. Korean e-commerce company co-founder Chris Koh will join Kang’s investment team alongside Rob Das and John Suh of US-based IT start-ups Splunk and Legalzoom, respectively.

“We believe we have assembled the best team to service entrepreneurs in Korea since all of us have built companies from the ground up in Korea and the US,” HanJoo Lee, co-founder of SparkLabs, said in a statement.

SparkLabs launched its first accelerator in Korea in 2012 and opened a Beijing unit earlier this year. A Hong Kong accelerator focused on fintech is planned for early next year. Earlier this month, the firm launched a Taiwan accelerator focused on emerging high-tech and mobile segments.

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• Topics
• North Asia
• Southeast Asia
• Fundraising
• Venture
• South Korea
• Korea Development Bank
• Venture