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SK Group injects 300B won into Legend Capital's venture capital fund

SK Group Ltd., through SK China, made a 300 billion-won investment in a fund set up by Chinese venture capital firm Legend Capital Management Co. Ltd., Business Korea reported.

The US$600 million fund will inject capital primarily into information technology and healthcare companies.

Legend Capital is the venture capital arm of Legend Holdings Corp., which owns Lenovo Group Ltd., while SK China is the holding company for SK Group's subsidiaries in China, according to the South Korean news publication.

SK Group is looking to broaden its investment in growing companies in China and other parts of Asia, as a result of the partnership with Legend Capital, the report noted.

As of Nov. 21, US$1 was equivalent to 1,128.24 South Korean won.