Korea's Company K Partners launches $187m growth fund
Korean venture capital investor Company K Partners has raised KRW122 billion ($153 million) for its latest fund, which has a hard cap of KRW150 billion.
Company K contributed KRW10 billion to the first close, according to a filing. LPs include Korea Teachers' Credit Union, Korea Scientists & Engineers Mutual-aid Association, and state-owned investor K-Growth, according to The Korea Herald.
The High Growth Fund is Company K's 20th vehicle overall and appears to represent an extension of a typically early-stage approach to new economy sectors. Last year, the firm raised KRW12 billion with an anchor investment from Korea Investment & Securities (KIS) for its first trust VC fund under the name CKP-KIS. It closed two start-up funds in 2018 with corpuses of KRW30 billion and KRW86.3 billion.
Company K claims to have invested at least 340 local technology companies since inception in 2006. Earlier this month, it joined a KRW9 billion round for smart robotics developer Luxrobo and a KRW5 billion round for voice recognition specialist Neosapience. In January, it backed a KRW20.5 billion round for mobile advertising company Buzzvil alongside Korea Development Bank, LB Investment, SBI Investment Korea, and Shinhan Bank.
Company K is also one of a group of VC investors in the Korean-produced film Parasite, which became the first foreign-language film to be named Best Picture at the 2020 Academy Awards after winning the Palme d'Or at the 2019 Cannes Film Festival. Company K is expected to double its KRW600 million investment in the movie, which is also reportedly backed by Solaire Partners, KC Ventures, and Central Investment Partners.
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