After being acquired by The Edgeof from SoftBank Group Corp. (SBG) in June of last year, SoftBank Ventures Asia is formally rebranding as SBVA, effective from February 1st.
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With a $150 million commitment, the “2023 Alpha Korea Fund“ was recently closed by the new SBVA. Through this fund, SBVA hopes to actively find early- to mid-stage firms that may generate new business prospects by using ICT-technical advancements like artificial intelligence (AI), robots, and computers. Healthcare, content, industrial deep tech, and enterprise SW are major investment areas across sectors.
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Yoshimitsu Goto, the CFO of SBG stated, “We are delighted that SBVA that has expertise and network of the startup investment business for more than 20 years will make the new start with The Edgeof, an ecosystem builder and venture capital entity. As a LP, we are excited to join the first fund that the new SBVA has established.”
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According to JP(JoonyPyo) Lee, the CEO of SBVA, “Despite the venture investment winter, we were able to successfully conclude the establishment of this fund based on the trust of our investors. We will continue to actively engage in investment activities by closely listening to the concerns of entrepreneurs.”
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About SoftBank Ventures Asia
Founded in 2000, SoftBank Ventures Asia is the global early-stage venture arm of SoftBank Group. We invest in startups with a strong potential in Asia, the U.S., Israel, and the EU, focusing on AI, IoT, and smart robotics industry.SoftBank Ventures Asia look for companies that will make the world a better place through revolutions in digital information.
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