K-Cube Ventures Puts Together a $29MM “Kakao Digital Contents Fund”

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K-Cube Ventures announced on Dec. 18th that the major investor in the South Korean IT space has completed structuring its third joint investment vehicle, named “Kakao Digital Contents Fund”.
Through the newborn fund, K-Cube plans to aggressively seek out early-stage startups with innovative core technologies and management ideas in digital contents, internet and mobile technologies, and online games.
“Kakao Digital Contents Fund” takes a public-private partnership form, totalling USD $29MM in size. The fund is comprised of $8MM from a fund of funds run by Korea Venture Investment Corp and Korea Development Bank, with $21MM of private capital from multiple sources. Among the private investors are prominent listed companies, foundations, as well as key entrepreneur figures in the IT sector–Kakao is one of the major LPs in its namesake fund.
With the addition of this fund, K-Cube Ventures now manages three funds totalling $64MM, which includes “K-Cube #1 Venture Investment Union” (~$10MM) and their second fund, “Kakao Young Entrepreneurs Fund” (~$25MM).
Trust and expectations on the new fund run high, as the public-private partnership has managed to convince a variegated group of investors. The fund has also brought back repeat investors from the “K-Cube #1” fund that distributed considerable interim returns this past September.
The business areas targeted with the fund will include K-Cube’s existing expertises of SW/ICT industries, next-generation broadcasting, entertainment, information contents, and E-learning. K-Cube Ventures is determined to extend its track record with timely investments in promising entrepreneurs through capital injections for equity.
Seungwoon Yu, Chief Executive of K-Cube Ventures summed up his commitment that “this third union will further expand our reach in discovering and nurturing early-stage startups, and K-Cube will do its best to make bold investment decisions and bring fruition to the meaningful ventures of our investees.”

Inspired by Platum

Yong Bin is interested in finding out what makes budding businesses sustainable in the long term, something he studied as an industrial engineer at school. He became a New Yorker at age 18, and tries to outdo Google in figuring out directions in the City. Yong Bin can be reached at ybkim@techforkorea.com.

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