Participated in 'SB Global Champ Fund' by investing 10 billion won

LG Uplus has partnered with SoftBank Ventures to support promising domestic and international ICT venture companies. It announced on the 29th that it will participate as a strategic investor by contributing 10 billion won to the 'SB Global Champ Fund,' a new fund created by SoftBank Ventures.

SoftBank Ventures is an information and communication technology (ICT) specialized venture capital firm that has invested in approximately 220 promising domestic and international venture companies.

In addition to LG Uplus, SoftBank Group and SoftBank Korea have decided to participate in the SB Global Champ Fund, with the total fund size reaching 121 billion won. SoftBank Ventures recently held a general meeting to establish the fund at its headquarters in Seocho-gu, Seoul, with investors in attendance.

LG Uplus plans to focus on discovering and nurturing promising domestic and international venture companies capable of leading the Fourth Industrial Revolution through its participation in the fund.

Kim Yong-hwan, Senior Vice President of Partnership Promotion at LG Uplus, said, “We will work closely with SoftBank Ventures to actively provide opportunities for venture companies with limitless potential to grow,” adding, “We hope that through this, we can contribute to creating an environment where large corporations and venture companies can coexist and prosper.”