Gabriel Budi Sutrisno · · 1 min readSoftBank Ventures Asia changes name after closing $150m fund
Photo credit: SoftBank
SoftBank Ventures Asia is changing its name to SBVA, the South Korea-headquartered VC firm said in a statement. Its website is currently being revamped as well.
In addition, SBVA has closed a new fund called the 2023 Alpha Korea Fund, with a committed capital of US$150 million.
Limited partners of the new fund include Korea Development Bank, SoftBank Group, Hanwha Life, Industrial Bank of Korea, Nexon, and KB Capital.
This comes after The Edgeof, a Singapore-based VC firm, acquired SoftBank Ventures Asia last year, during which the rebranding plan was announced.
SBVA aims to establish multiple funds to support startups at different stages. The 2023 Alpha Korea Fund will back early- to mid-stage startups operating in sectors like enterprise software, healthcare, content, and industrial deeptech.
Previous investees of SBVA include South Korean AI startups Upstage and Seadronix, as well as payments solution platform Chai.
See also: Middle Eastern investors fill vacuum left by SoftBank in SEA venture scene
Editing by Miguel Cordon and Lorenzo Kyle Subido
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