KDB Industrial Bank Establishes 2.5 Trillion KRW Innovation Company Growth Support Fund
[Asia Economy Reporter Jo Gang-wook] On the 7th, Korea Development Bank (KDB) announced that it will establish a growth support fund worth 2.5 trillion KRW together with Korea Growth Investment Corporation to support the scale-up of innovative companies.
The growth support fund will be created with a total of 2.5 trillion KRW, including 610 billion KRW from KDB, 120 billion KRW from the Growth Ladder Fund, 100 billion KRW from KDB Capital, 50 billion KRW from government finances, and additional private investments, totaling 880 billion KRW.
This fund will provide growth capital to small and venture companies and mid-sized companies related to the 4th Industrial Revolution, and will focus investments on innovative infrastructure D.N.A. and companies related to the three major new industries BIG3.
KDB plans to select up to 20 entrusted operators by the end of April. The deadline for proposal submissions for the entrusted operator selection project is the 3rd of next month.
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A KDB official explained, "The biggest feature of this investment project is the enlargement of the fund and strengthening of private autonomy, which induces active venture investment and follow-up investments for scale-up."
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