South Korean Venture Capital (VC) firms to work with The United Arab Emirates for investment in South  Korean startups of 1.38 trillion won. Last year, the UAE promised the South Korean Government a $30  billion investment across various sectors including defense and nuclear power. This $1 Billion  investment in startups is said to be the very first step toward that deal. 

The establishment of this joint venture investment company with LB investment in Korea was  confirmed on May 7 through AIM Global Foundation. They intend to attract funds from Limited  partners (LPs) within The United Arab Emirates and also decided on a venture fund of $1 billion which  will be managed by a joint venture company. AIM Global Foundation, an Abu Dhabi-based VC and  Seoul-based LB investment is said to be setting up a Joint Venture by attracting UAE LPs.  

LB Investment is a leading VC firm that has invested in various big companies before such as game  developer Pearl Abyss, Korean entertainment agency HYBE Co., and more. They will be managing the  JV for Korean startups. The AIM Global Foundation is known as a channel for “oil money”. AIM (Annual  Investment Meeting) organizes the biggest investment forum each year.

The team for AIM consists of  the UAE Minister of Foreign Trade and other officials from various departments. In 2011, when Elon  Musk secured investment for Tesla’s business expansion, AIM became the talk of the town and has  gained fame since then. This year’s AIM started on May 7 and will end on May 9. Yesterday, LB  Investment secured its position as a joint venture company with AIM Global Foundation managing  UAE’s Venture investment funds. 

AIM Global Foundation mentioned the reason for choosing LB Investment as a partner is due to their  verified international investment capabilities and proven investment performance. Park Ki-ho, the  head of LM Investment is also the chairman of KITIA (Korea Core Industrial Technology Investment  Association). Chairman of AIM Global Foundation, Dawood AI Shezawi said they will be investing  strategically to make good impacts on the global economy.

Conclusion: 

South Korean startups are getting investment of $1 billion from the United Arab Emirates (UAE). In  simple terms, the UAE is investing a lot of money to help South Korean startups grow. They’re doing  this through a partnership between Korean investment firms and the UAE. The goal is to support  Korean startups and help them succeed and make good impacts on the global economy and society.  LB Investment, a well-known investment company, will be in charge of managing this partnership.

The  UAE chose LB Investment because they’re good at investing internationally and have a track record of  success. This partnership is seen as a big step in helping Korean startups and making a positive impact  on the global economy. The establishment of a joint venture investment company, confirmed on May  7, aims to attract funds from UAE Limited Partners and manage a venture fund of $1 billion for Korean  startups.