Smilegate Investment, the corporate venturing subsidiary of South Korea-based video game producer Smilegate, intends to launch a second Vietnam-focused fund later this year, DealStreetAsia reported yesterday.
Founded in 1999, Smilegate Investment claims to have backed some 400 companies through a total of about 50 funds.
One of those funds, Kairo Capital, is targeted at Vietnamese startups and has revealed investments in mobile commerce platform Lozi and sales management software provider Sapo, though it told DealStreetAsia it has also backed real estate portal Hoozing and smart earwear producer Earable.
Kyounghwan Kim, vice-president at Smilegate Investment, said: “Vietnam Kairo Fund was set up with a small size to explore the Vietnamese market. After more than one year, we have reached the conclusion that Vietnam has great potential and are ready to establish the Kairo Fund II.”
