Korea Development Bank and IBK Establish 120 Billion Won Fund to Support Growth of Innovative Companies

Providing Growth Capital to Promising Pre-IPO Companies
Joint Management by Korea Development Bank and IBK Investment & Securities

Korea Development Bank and IBK Industrial Bank of Korea have jointly established a 120 billion won fund to support the growth and stable entry into the capital market of promising innovative companies preparing for an initial public offering (IPO).

Korea Development Bank announced on September 22 that, together with Industrial Bank of Korea and both institutions' affiliates, it has launched the "KDB-IBKS Next Stage Fund." This fund is a follow-up cooperative project to the "Policy Financial Institutions Council," which was launched on March 27. It was set up to further expand joint investment and cooperation among policy financial institutions, following the previously established "Policy Financial Institutions Global Scale-Up Cooperative Fund" promoted by the three major policy banks.

Korea Development Bank and affiliates of Industrial Bank of Korea each contribute 60 billion won, for a total of 120 billion won, and Korea Development Bank and IBK Investment & Securities will jointly manage the fund. The fund focuses on providing growth capital to promising innovative companies preparing for an IPO, supporting their business expansion and enhancement of corporate value, as well as ensuring their successful entry into the capital market.

Korea Development Bank plans to reinforce support at every stage of growth—from discovery of promising companies to investment, value enhancement, and IPO preparation—by combining its experience in corporate finance and investment with IBK Investment & Securities' expertise in IPOs and capital markets.

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