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Industrial Bank of Korea, venture capital firm launch 126.5B won PE fund

Industrial Bank of Korea said Sept. 22 that it launched a 126.5 billion won private equity fund with venture capital firm Stonebridge Ventures.

The new fund, which will invest in startups, will be managed by Industrial Bank of Korea and Stonebridge Ventures. It attracted funds from South Korean institutional investors, including the Korea Fund of Funds managed by Korea Venture Investment Corp.

As of Sept. 20, US$1 was equivalent to 1,189.39 South Korean won.