KDB, IBK Establish KRW 120 Billion Fund to Invest in Innovative Companies

[Financial News]  Korea Development Bank and Industrial Bank of Korea said on the 22nd that they had established the KDB-IBKS Next Stage Fund, a KRW 120 billion fund that invests in promising innovative companies before they go public.
The fund was established to provide financing to innovative companies with high growth potential and support their stable entry into the KOSDAQ market. Industrial Bank of Korea and KDB will each contribute KRW 50 billion, while their affiliates IBK Securities and KDB Capital will each contribute KRW 10 billion. IBK Securities and KDB, both of which have their own IPO teams, will jointly manage the fund.
The main investment targets are innovative-growth companies and pre-IPO companies that have signed listing underwriting agreements or aim to conduct IPOs within the next three years.
A Korea Development Bank official said, "Through collaboration among policy financial institutions, we aim to strengthen our role as a catalyst for encouraging funding for innovative companies and the inflow of private investment. We expect this will enable us to actively respond to the government's drive to expand productive finance." An Industrial Bank of Korea official said, "This fund is part of the task force to revitalize the KOSDAQ market being pursued by Industrial Bank of Korea, and we plan to establish funds worth a total of KRW 500 billion over the next three years. Following this pre-IPO fund, we will also establish an additional post-IPO fund focused on listed companies and continue expanding funding support for innovative companies at each stage of their growth."
[email protected] Jo Eun-hyo Reporter