LG Technology Ventures Launches a $309 Million Fund to Support Startups
LG Technology Ventures, the subsidiary of LG Group,
has announced the launch of a $400 billion Korean won (approximately $309 million) investment fund to enhance its support for startups in diverse fields such as artificial intelligence, batteries, and mobility.
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the details
In a statement released on Sunday, the company clarified that the new funding comes from four units affiliated with LG Group, including LG Energy Solution and LG Chem,
raising the total assets under management within the company to one trillion won.
As the competition intensifies in the race to develop artificial intelligence models,
industry leaders in South Korea, including LG,
are actively collaborating with startups to contribute to this evolving field.
LG initiated
LG initiated its venture into the world of private investment in Silicon Valley in 2018 by launching a fund worth 600 billion won.
Since then, it has directed investments exceeding 400 billion won into innovative companies,
including Anthropic, a startup founded by former employees of OpenAI,
working in the field of artificial intelligence and aiming to provide highly secure chatbot software.
Another beneficiary of these investments is Allganize, which offers an AI chat program tailored for companies in Korea, the United States, and Japan.
LG Technology Ventures Launches a $309 Million