Lotte Holdings, a South Korea-headquartered multinational that spans multiple industries, has launched a healthcare and biopharmaceutical corporate venture capital fund.
While the fund size has not been disclosed, Lotte Holdings said in a release that it would target startups of all stages globally.
Lotte Group expanded into the pharmaceutical sector in 2022 when it established Lotte Biologics. The subsidiary does contract development and drug manufacturing.
Lotte Holdings invests more broadly in startups through its corporate venture unit Lotte Ventures, previously known as Lotte Accelerator.
The wider Lotte Corporation group is made up of over 90 businesses, across industries including confectionery, hotels, industrial chemicals and electronics. It began as a family business selling chewing gum in 1948.
South Korean holding companies have been able to establish CVCs following a change of the law in 2021, leading to an increase in activity in the country. Lotte was already investing prior to creating a CVC, with $107m committed in 2021.
Webinar: Pop, Beauty and chips: How to invest in South Korea
There has been growing awareness of South Korea thanks to the global popularity of K-Pop, K-Drama and K-Beauty treatments. Expertise in semiconductors, electric vehicles and AI are also attracting investors. The South Korean government, too, has relaxed regulations to make it easier for corporates to invest in local startups and for foreign investors to enter the market.
But what do investors entering the South Korean market need to know?
In this webinar, a panel of investors familiar with the Korean market will discuss:
- What is the best way to start?
- What local market quirks need to be understood?
- What are the best ways to source promising deals?
- Which startup sectors are offering the most promise right now and which ones are overdone?
Sign up here to secure you place
