LF, a lifestyle culture corporation, is expanding investments in life tech through its corporate venture capital (CVC) arm, LF Investment. Last year, it was selected as the General Partner (GP) for the Fund of Funds (FoF) and formed a new blind fund exceeding 40 billion won.
According to the venture capital (VC) industry on the 13th, LF Investment formed a total of two new blind funds last year, including the 'Soft Industry Development Investment Association' and the 'Cyber Security Innovation Investment Association.' Each was noted to have a scale of 21 billion won and 20 billion won, respectively.
In particular, LF Investment was selected as a GP in the Fund of Funds' first regular contribution project for women-owned corporations last year, marking the first time it acquired GP status since its establishment. LF Investment is a new VC established in 2022 as part of LF Group's venture investment commitment.
LF Investment aims to expand its investment area into the life tech sector this year. The goal is to discover promising technology startups in the fields of medical care, food, and housing, and to promote business connections with LF, which focuses on sectors closely related to daily life, including fashion and food and beverage.
Previously, on the 2nd, Oh Gyu-sik, the CEO of LF, noted that "the negative impacts on the economy, such as high exchange rates, domestic recession, export slowdown, and social uncertainty, are approaching like a 'perfect storm'" and stated, "we will focus on investment centered on our core businesses and brands."
LF Investment is evaluated as having rapidly settled into the VC market. After obtaining a license as a new technology-based business financing company in January 2023, it invested approximately 30 billion won in domestic and foreign information and communications technology (ICT) and healthcare technology corporations over about two years.
An official from LF Investment said, "Last year, we laid the foundation for growth with excellent funding results" and added, "This year, we aim to support the global expansion strategies of our portfolio companies while discovering K-life tech sector corporations to help their growth."