SK Group has invested 300 billion won (US$265.49 million) in a fund raised by China’s largest venture capital firm.
The SK Group participated in US$600 million (680 billion won) worth of fund established by Chinese venture capital firm Legend Capital in July.
SK China, a holding company for SK Group's affiliates in China, invested 300 billion won (US$265.49 million), which was half of the fund's total capital.
Founded in 2001, Legend Capital is an independent venture capital investment subsidiary of Legend Holdings Ltd., the parent of computer giant Lenovo Group.
The fund will mainly invest in the information technology (IT) and healthcare sectors.
Following its partnership with Legend Capital, SK Group is planning to expand its investment in growing companies in the Asian region, including China.
SK China was established in 2010 to expand the group’s business in China. It acquired SK Rent-a-Car, a Chinese rental car subsidiary of SK Networks, in 2016. The company currently runs real estate, new energy and rental car businesses in China.