Israel's Yozma to invest $41m in Korean health tech start-ups
Israeli venture capital firm Yozma Group has agreed to invest KRW50 billion ($41.4 million) in Korean biotechnology and healthcare start-ups, starting in the first half of 2017.
The investment will be made via a fund formed with KOSDAQ-listed VC Daesung Private Equity and represents part of a KRW120 billion multi-manager vehicle led by Korea Development Bank. The capital will be used to help Korean companies access international markets and list on foreign stock exchanges, according to local media.
Founded in 1993, Yozma is regarded as one of the founding organizations in Israel's VC ecosystem and typically makes investments of $1-6 million across IT, communications and medical technology sectors. It claims to have exited more than 20 companies either by IPO or sales to global strategics.
Yozma launched its Korea unit in 2014 and opened an incubator in the country last year. This coincided with a KRW1 billion commitment to 500V, a holding company focused on start-ups in IT, online-to-offline and mobile industries. It was considered the first investment by an Israeli VC in Asia.
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