Korea’s KB Investment Commits $100 Million to Elev8 Venture Partners Fund

Updated on: 19 November 2022 4:03 am

The size of the global travel insurance market was estimated at $17.60 billion in 2021 and is predicted to increase to $120.3 billion by 2030

TripMoney Reports Over 270 Per Cent Increase In Sales Of Byte-Size Insurance Benefits Cover Photo: The size of the global travel insurance market was estimated at $17.60 billion in 2021 and is predicted to increase to $120.3 billion by 2030

KB Group, a South Korean financial services provider, has partnered with Elev8 Venture Partners as an anchor investor and co-general paerner through its subsidiary KB Investment. It 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.

Prior to this, KB Group invested in companies like PharmEasy, Spinny, Tracxn, Fareye, Rupeek and Vedantu. Going forward, it plans to work closely with Elev8 to identify investment opportunities in India's leading technology companies and to support Elev8 with portfolio management.

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KB will 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 the sea, Elev8 shall help the portfolio companies expand across the sea.