Korea Advanced Materials Fund raises $36 million from venture investors
Korea Advanced Materials Fund has received $35.9 million from international chemicals group Solvay, Korea Venture Investment Corp (KVIC) and AJU IB Investment, a Korean VC company formerly known as Kibo Technology.
The fund focuses on investing in renewable energy, printed electronics, clean technologies and green chemistry. Solvay, a Belgium-headquartered global chemicals group, will inject $17.9 million, while KVIC and AJU IB Investment will invest $8.9 million. The fund will be managed by AJU IB Investment.
Jung-Kyoo Yang, CEO of AJU IB Investment, said in a statement, "Korea has been successful in joining the leading group of the world's high-technology countries, and eagerly built up new technology development capabilities," adding that the space will provide excellent opportunities for venture capital investors, particularly in printed electronics, clean and green technologies.
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