Korea Investment Partners closes $60m for SEA venture fund

Photo credit: Korea Investment Partners

Korea Investment Partners Southeast Asia (KIPSEA) has closed its first Southeast Asia venture capital fund at US$60 million. 

Backed by institutions such as Samsung Life Insurance, Korea Development Bank, and Korea Growth Investment Corporation, KIPSEA Venture Fund I will focus on fintech, proptech, and enterprise software solutions. 

The fund will invest in startups in the seed to series B stage in Southeast Asia, with a “small proportion” reserved for South Korean companies looking to expand into the region. 

Incorporated in 1986, KIP is one of the largest venture capital firms in South Korea, having made over 900 investments and managing more than US$3 billion in assets. 

KIP is a division of Korea Investment Holdings, a financial conglomerate present in areas like securities, asset management, banking, credit finance, private equity, and real estate. 

Some of its notable portfolio companies include Kakao, Naver, and YG Entertainment from South Korea, as well as Halodoc and Tiki.vn from Indonesia and Vietnam, respectively.

“Underpinned by strong macroeconomic factors and the development of technological and digital capabilities within the region, Southeast Asia remains a key target market for KIP,” said Synclare Kim, head of KIPSEA.

KIP first established its presence in Southeast Asia in 2018 with the launch of the GEC-KIP Technology and Innovation Fund, with Singapore as the investment vehicle’s headquarters. 

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