The Export-Import Bank of Korea is making its first direct investment in a venture capital fund since its establishment. The bank will invest 20 billion won in a fund supporting venture companies in the defense and supply chain sectors, along with a separate investment in a medical artificial intelligence (AI) company.
On August 13, the Export-Import Bank announced that it will select a management company for the 'LP Growth Fund' aimed at supporting venture companies in the defense and supply chain sectors, in collaboration with the Supply Chain Stabilization Fund.
Both the Export-Import Bank and the Supply Chain Stabilization Fund will each contribute 20 billion won, with a total target fund size of 112.5 billion won. The fund will operate as a blind fund, meaning it will not pre-select investment targets but will seek out opportunities after the fund is established.
The fund plans to invest in companies involved in finished defense products, parts, and materials, as well as advanced technology firms in the defense sector, including those working with drones, robots, and AI, along with companies related to key supply chain items.
The Export-Import Bank will collaborate with BNK Financial Group, which has strengths in regional investments, and the Korea Venture Investment Corp., which has experience in managing venture funds. Earlier, the bank signed a memorandum of understanding with the Ministry of SMEs and Startups, Busan Bank, and Kyongnam Bank in April to support small and medium-sized enterprises and promote regional investments.
The investment project will be announced on the Export-Import Bank's website on August 14, and the final selection of the management company will occur after approval from the Minister of Economy and Finance in the second half of this year.
Additionally, the Export-Import Bank has decided to invest in the medical AI venture company Airs Medical. The bank will invest 7.5 billion won in a 30 billion won project fund being established by Samho Green Investment.
Airs Medical develops software that uses AI technology to reduce MRI scan times by up to 50%. In just eight years since its founding, the company generates over 90% of its total revenue from overseas.
Through this investment, the Export-Import Bank plans to support Airs Medical in expanding its overseas sales network and securing local regulatory approvals.
This investment became possible following amendments to the Export-Import Bank Act and the Supply Chain Stabilization Act earlier this year, which expanded the investment targets for the Export-Import Bank and the Supply Chain Stabilization Fund to include venture capital funds.
* This article has been translated by AI.
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