Korea Business News Agency - NSP NEWS AGENCY.

(Seoul=NSP NEWS AGENCY) = SK Networks joined forces with Bow Capital, a leading global venture investment company, through a U.S. investment corporation to attract external investors(LPs).

SK Networks announced that Hico Management and Bow Capital Management have formed a joint fund.

Hico Management, an investment management subsidiary of SK Networks’ U.S. subsidiary Hico Capital, created a joint fund with Bow Capital Management to raise investment, with participation from external investors, and the first closing was held late last year, with the final closing expected soon.

For fund management, both firms will look for investment opportunities in the AI and ML sectors. At the same time, Hiko Management will focus on Web3, and Bow Capital Management will focus on digital transformation (DT) and healthcare, leveraging the expertise of each firm.

Bow Capital is developing a variety of investment projects based on a close collaborative relationship with the University of California System(UC System), which consists of the University of California’s 10 campuses, six medical facilities and hospitals, and three national research institutes.

“Even in the midst of a shrinking investment market, we were able to attract external investors in addition to SK Networks and SK Magic to conduct the first closing on a significant scale.” said an official from Hico Management. “In the future, we will gather various global investors, including the US, to increase the size of the fund and accumulate performance to become a competitive independent VC.”

By Soon-ki Lee(s8789@nspna.com) and Bok-hyun Lee(bhlee2016@nspna.com)

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