Korea Development Bank (KDB) is seeking to revitalize the domestic venture ecosystem in cooperation with global accelerators.
KDB announced on April 28 that it invited an official from Plug and Play, one of the top U.S. accelerators in Silicon Valley, to give a lecture at a special round of “KDB Next Round,” a venture investment platform, held at KDB’s IR center in Yeouido, Seoul, on April 26. An accelerator seeks out promising startups and grows them up through initial fund investment and incubation programs.
Plug and Play, which participated in the special round, is one of the major accelerators in Silicon Valley. The company has made an initial investment in startups which have become leading firms in Silicon Valley, such as PayPal and DropBox. KDB held the event to share advanced venture startup incubation know-how and to help global promising startups enter the South Korean market. It also provided a new investment opportunity to domestic corporate venture capital (CVC) and venture capital companies.
A KDB official said, “KDB will keep expanding the global special round of KDB Next Round, which is one of the country’s largest venture investment platforms, helping innovative venture firms go global and advancing the venture ecosystem in the future.”