TLDR:
- SoftBank Ventures Asia (SBVA), formerly known as SBVA, has rebranded itself as SBVA.
- The rebranding coincides with the closure of SBVA’s latest fund, valued at $150 million.
SoftBank Ventures Asia (SBVA) has officially renamed itself as SBVA as part of its evolution under new ownership. The rebranding comes after The Edgeof acquired the venture capital firm from SoftBank Group Corp in June of last year. The name change aims to strengthen connectivity with partners and portfolio companies. Additionally, SBVA has closed its latest fund, the 2023 Alpha Korea Fund, which exceeded its initial target amount of 100 billion won. The fund is valued at 200 billion won and has received investments from prominent entities such as SoftBank Group, Hanwha Life, Nexon, KB Capital, Korea Development Bank, and Industrial Bank of Korea. SBVA focuses on financing early to mid-stage startups in fields like AI, robotics, and computing, with a particular emphasis on enterprise software, healthcare technology, and industrial deep technology. The firm aims to drive innovation across various sectors and facilitate the international expansion of domestic startups by leveraging its extensive experience and global network. SBVA’s CEO, JoonyPyo Lee, expressed confidence in the firm’s ability to support entrepreneurs and drive impactful investment activities despite market challenges. The Chief Financial Officer of SoftBank Group, Yoshimitsu Goto, highlighted SBVA’s expertise in startup investment and its vision to become a catalyst for transformative change in various industries.
