SparkLabs Group, a network of accelerators and funds, is launching a $50 million early-stage fund (Series A & B) primarily focused on South Korea. The fund will be led by Brian Kang, who was a founding member of Samsung’s first venture capital arm and later led Korea Venture Fund, which was Korea’s first VC fund of funds. He has over 20 years of experience as an investment professional and several years as an entrepreneur and operator. He was CEO & Chairman of the Board at Gravity, a Softbank affliated gaming company, and then went on to launch his own gaming startup. Brian is joined by Chris Koh, Co-founder of Coupang which is the leading ecommerce player in South Korea and received $1 billion investment from Softbank in 2015. Chris started Coupang with a classmate from Harvard Business School and their friend at Harvard Law. He was vice president of the company for five years focusing on operations and growth. “We are grateful to SeAH who was one of the first investors in SparkLabs Global Ventures, our global seed fund, and now the anchor investor along with Korea Development Bank/Multi-Asset in our new Series A fund for South Korea. We believe we have assembled the best team to service entrepreneurs in Korea since all of us have built companies from the ground up in Korea and the U.S.,” stated HanJoo Lee, co-founder of SparkLabs. SeAH is a top 50 business group in South Korea and Korea Development Bank/Multi-Asset is subsidiary of… [Read full story]
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