KOSDAQ-listed venture capital (VC) firm Stonebridge Ventures has formed a new fund worth 325 billion won.
On the 3rd, Stonebridge Ventures(330730) said it held a general meeting to establish the new fund on the 31st and completed the formation of the 325 billion won "Stonebridge AI Global Investment Partnership."
It is a parallel structure of the "Stonebridge AI Global No. 1 Investment Partnership" (about 225 billion won) and the "Stonebridge AI Global No. 2 Investment Partnership" (about 100 billion won), with pension funds and mutual aid associations joining in large numbers as limited partners.
Specifically, the No. 1 partnership has Korea Development Bank (KDB), Industrial Bank of Korea, Korea Growth Investment Corporation (K-Growth), Korea Federation of Small and Medium Enterprises, and Korea Post, among others, while the No. 2 partnership includes the National Pension Service and the Government Employees Pension Service as limited partners.
The primary investment targets span the artificial intelligence (AI) value chain, with 195 billion won to be invested in AI infrastructure and models and application services. The remainder will go to adjacent AI industries, biotech, and deep tech.
It was tallied that Stonebridge Ventures formed a new fund for the first time in about 2 years and 6 months since Dec. 2023. Total assets under management (AUM) increased to about 1.7 trillion won.
Choi Dong-yeol, head of the investment institutional sector and lead fund manager, said, "The AI value chain is the most certain growth area," and added, "We will identify and nurture Korea's AI value chain corporations that can deliver results in the global market."