Venture Capital: LG Technology Ventures Boosts Venture Fund Size To $770M

November 20, 2023 | News, Venture Capital

Seven major LG companies chipped in for the investment in LG Technology Ventures

LG Technology Ventures, the corporate venture capital firm affiliated with LG Group (KRX: 003550), has increased its operating fund to 1 trillion won ($770 million). Originally established in Silicon Valley in 2018, the firm is dedicated to identifying global startups with innovative technologies.

The fund, supported by seven major LG companies namely LG Electronics, LG Display, LG Innotek, LG Chem, LG Energy Solution, LG Uplus and LG CNS, has already utilized around 70 percent of its total funds. (Pulse)

This year, additional investments from LG Energy Solution, LG Chem, LG Uplus, and LG CNS have propelled the operational fund beyond the 1 trillion won mark. LG’s investments through LG Technology Ventures over the last five years have exceeded 400 billion won, spanning 64 entities in areas like artificial intelligence (AI), biotech, batteries, and mobility, showcasing a diverse portfolio.

Lately, the fund has upped its commitment to artificial intelligence, channeling investments into Allganize, a firm specializing in comprehensive solutions leveraging a vast language model, and Anthropic, an AI startup established by researchers associated with OpenAI.

Related Story: South Korean Electronics Giant LG Leverages AI For Fund Management Venture

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