SEOUL, South Korea, Jan 29 (Bernama-BUSINESS WIRE) — SoftBank Ventures Asia is officially changing its company name to SBVA from beginning of February 1st after The Edgeof acquired the company from SoftBank Group Corp.(SBG) in June of last year. The new SBVA embraces the concept of technological singularities and the broader impacts of the virtues of artificial intelligence, reflecting its commitment to leading in this transformative era. It also reflects the continuity of its business domestically and internationally, highlighting the sustained connectivity with its partners, infrastructure and portfolio companies developed over the past two decades. SBVA is poised to actively seek out startups that will revolutionize various industries through innovative technology, building upon its ICT investment expertise.
The new SBVA has recently closed the “2023 Alpha Korea Fund,” with a total committed amount of approximately ₩200 billion ($150M). The funding amount significantly surpasses the initial target of ₩100 billion, underscoring the significance of successfully exceeding fundraising goals in a market downturn.