[THE INVESTOR] SBI Investment has partnered with US venture capital’s Asia-Pacific branch to form Global Gateway Fund, to invest in small and medium enterprises and venture firms in South Korea, according to Korea Economic Daily on Sept. 27.

This is the first venture fund created by Redbadge Pacific for investing in the local market.

Global Partnership Fund No. 2, formed by Korea Development Bank and Industrial Bank of Korea, has invested in the fund that will attract additional investors to grow up to 40 billion won (US$36.45 million).

The fund will focus on venture companies that seek to expand overseas, especially in health care and consumer goods industries.

SBI Investment is one of the well-performing venture capital firms in the country, investing 41.2 billion won in the first half of 2016.

By Hwang You-mee (glamazon@heraldcorp.com)