Storm Ventures
SK C&C announced on April 6 that it signed an MOU with US venture capital firm Storm Ventures to discover startups with promising global technologies related to the B2B technology business and cooperate in business.
The MOU signing ceremony, held at SK-u Tower in the Bundang district of Seongnam in Gyeonggi Province, was attended by about 10 officials from both companies, including Kim Wan-jong, digital business manager of SK Holdings C&C, and Ryan Floyd, co-founder and CEO of Storm Ventures.
Storm Ventures is a Silicon Valley-based venture capital firm established in 2000. It focuses on early investments in B2B technology startups and has US$1 billion in assets under management (AUM) through seven funds.
Under the agreement, the two companies will create a global digital innovation ecosystem together by combining Storm Ventures’ digital market and new technology discovery capabilities with SK Holdings C&C’s digital ITS business capabilities for industries.
When Storm Ventures initially introduces portfolios and promising startups that are expected to create synergies with SK C&C, SK C&C will prepare measures to verify startups’ technologies and apply and expand digital systems.