In brief: Korean crowdfunding platform to create private equity fund for startups

• South Korea-based crowdfunding brokerage platform Wadiz will create a private equity fund to directly invest in startups.
• Korea Growth Investment, an independent fund-of-funds management company, is planning to inject around 5.5 billion won (US$4.8 million) into the new fund. The total investment committed to the fund has yet to be determined, with more details to be announced mid-2019.
• Founded in 2012, Wadiz brokered 6,800 crowdfunding rounds with an accumulated volume of 117 billion won (US$104 million).

Source: The Investor

Currency converted from Korean won. Rate: US$1 = KRW 1,124.95