Venture capital company Kakao Ventures has collectively poured 33.7 billion Korean won into 43 venture start-ups in 2018 to newly invest or complement the existing investments, the subsidiary of Korea’s SNS giant Kakao Corp. said.
The vast majority of the investments went to seed round and series A round fund-raising projects that are in the pipeline to mostly finance just hatched venture start-ups.
Cumulatively, Kakao Ventures has invested 135 billion Korean won in more than 150 cases, so far.
Noteworthy thing is that the venture capital company has been expanding its investment portfolio into a new breed of technology sectors like AR and blockchain. Cases in point are its investments in blockchain venture start-ups like Orbs, Terra and Kodebox.
Orbs is an Israel-based blockchain infrastructure solution company. Kakao Investments, one of Kakao Ventures-run 6 funds, has invested in the Israel company to finance a joint-research project with Ground X, a blockchain subsidiary of Kakao Corp.
Ground X and Orbs signed a MOU in August to cooperate to develop a series of blockchain applications to run it on the Kakao network.
Orbs is a sort of public blockchain platform designed to complement a base-layer protocol. The Israel company has recently established a Korean office in Seoul to expand its business scope.