KT Investment Establishes Largest Single Fund Despite Challenging Market
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KT Investment set up a 64.5 billion won ($48.7M) fund, its largest single fund ever, despite challenging market conditions.
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KT, the parent company, invested 25 billion won. Other investors include Korea Fund of Funds and Industrial Bank of Korea.
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The fund was established in April after KT Investment was selected as a partner for youth startup support by Korea Venture Investment Corp.
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KT Investment was also chosen for a Seoul city scale-up funding project in July.
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The challenging VC market has seen declining funding, weighed down by rate hikes, monetary policy, and uncertainty.