Korea Investment Partners Southeast Asia Pte. Ltd. (KIPSEA), the Singapore-based team of Korea Investment Partners (KIP) has successfully closed $60 million for its first flagship Southeast Asia venture capital fund.
It said the fund will be dedicated to investing in Seed to Series B, high-growth technology startups in Southeast Asia, with a small proportion reserved for South Korean companies looking to expand into the region, and will be focusing on sectors such as fintech, proptech, and enterprise software.
KIP, incorporated in 1986, is one of the largest venture capital firms in South Korea, having made over 900+ investments.
KIP is a subsidiary of publicly-listed Korea Investment Holdings, a financial conglomerate with multiple financial verticals including securities, asset management, banking, credit finance, private equity, and real estate.
KIP first established its foothold in Southeast Asia with the launch of the GEC-KIP Technology and Innovation Fund in 2018, with Singapore as the headquarters, and has been actively deploying capital to promising start-ups within the region.
“We target to utilize KIP’s strategic networks and the strength of its ecosystem to identify and nurture early-stage, high potential and category-defining companies across the region,” said Synclare Kim, Head of KIPSEA.