Hancom Group announced on the 8th of June, that it will launch an open-ended “Asia Connect Fund” with the Naver Business Platform (NBP).
Based on initial funds from Hancom Group and NBP, the fund will be jointly operated by Coolidge Corner Investment and Datozu (Co-GP), and after the first closing of 10 billion won through additional funding by the end of this year, , The second round of recruitment will be operated in an open-end format in consultation with existing investors.
The ‘Asia Connect Fund’ possesses software as a service (SaaS) technology and plans to focus on small and medium-sized enterprises in North America and Europe in the business expansion stage. In particular, Hancom Group and NBP will also play a strategic partner role that actively contributes to increasing corporate value by seeking not only financial investments, but also business synergies using cloud technologies, management know-how, and global networks owned by both companies.
Hancom Group and NBP noted that the demand for cloud environments and SaaS is rapidly increasing due to the spread of the global untact demand. Through the creation and investment of the “Asia Connect Fund”, both companies will support the entry of strong SaaS solutions from North America and Europe into the Asian region. Simultaneously, the two companies will seek to expand their cloud market overseas.
“It is very meaningful to strengthen our strategic relationship by participating in this fund together with NBP. Additionally, we expect to strengthen the technological competitiveness of both companies and expand the overseas market.”, said Yeon-soo Kim, CEO of Datoz and Hancom Group’s Operations Manager.