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KB Investment Commits $100 Million To Elev8 Venture Partners Fund KB Group will work closely with Elev8 to identify investment opportunities in India's leading technology companies and to support Elev8 with portfolio management

By Teena Jose

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KB Group, South Korea's financial services provider, has partnered with Elev8 Venture Partners as an anchor investor and co-GP through its subsidiary KB Investment. KB has committed $100 million including co-investments, to the total fund size. KB investment is part of KB holdings which manages over $400 billion of assets, as per a statement. Prior to this, KB group has invested in companies like Pharmeasy, Spinny, Tracxn, Fareye, Rupeek, Vedantu, etc. Going forward, KB Group will work closely with Elev8 to identify investment opportunities in India's leading technology companies and to support Elev8 with portfolio management.

"We have spent over a year with diligence and concluded that Elev8's management team is by far the best team to invest at the growth stage. Their exceptional track record, prospective portfolio pipeline, and proprietary data algorithms have presented a strong proposition for us to join hands. Furthermore, Navin and the VCats group provide unprecedented access and network to early-stage startups, which will assist elev8 in future deal flow and investments," said Eric Yoo, executive managing director, KB investment.

KB's global experience, operational capabilities, and network of strategic relationships in multiple locations will assist Elev8's portfolio companies to expand their global presence and strengthen their products in markets where KB has already established a strong network through partnerships and investments. KB shall work closely with the Elev8 team in not only identifying investment opportunities but also portfolio management. Given that over 54 per cent of companies in the growth stage are looking to expand in SEA, Elev8 shall help the portfolio companies expand across SEA, as per the company's statement.

"We are extremely excited to partner with KB investment. We believe their expertise in the SEA market will add value to growth-stage companies in our portfolio," said Navin Honagudi, co-founder and MD of Elev8.

Teena Jose

News Desk Reporter with Entrepreneur India

Teena is a post graduate in financial journalism. She has an avid interest in content creation, digital media and fashion.
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