The Yozma Group announced that it signed a strategic investment agreement with 500V on March 13.
According to the contract, the Yozma Group will invest 1 billion won (US$888,260) in 500V via Yozma Ventures, its business accelerator for investment in Asian startups, and the amount is expected to increase over time.
“The business structure and growth model of the 500V venture association are truly one of a kind in the world,” said Yozma Ventures, adding, “500V will be able to present new growth models for startups and venture firms across Asia, and this is why we chose it as our first partner in Asia.”
The Yozma Group is a global venture capital firm that started in Israel in 1993. Since then, it has partnered with Israeli IT ventures across the world, helping more than 20 of them to list themselves on the NASDAQ or be acquired by industry leaders. 500V, officially launched last month, is Korea’s first online-to-offline (O2O) venture association covering the mobile sector as well.