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LG steps up investment in global start-ups

IANS  |  Seoul 

South Korean has said it has been looking for investment opportunities in various fields to keep pace with fast-changing and find new growth drivers.

LG Technology Ventures, LG's venture capital investment arm, has invested over $19 million in start-ups in emerging technology fields, including IT, automotive, manufacturing, bio, and advanced materials.

The amount is about 4.5 per cent of the $425 million fund assets raised by five LG affiliates in electronics, display, chemical, telecom and IT service provision for its establishment in 2018, the company said.

Among the are provider and bio-tech company Lygos, as well as cooking app SideChef and advanced material company Optodot, reported on Thursday.

Most recently, the investment arm invested in $2 million in AmazeVR, a platform start-up in Silicon Valley.

"is monitoring the of global start-ups, while searching for investment opportunities in various fields, including artificial intelligence, virtual and augmented reality, bio, materials and displays," LG said in a release.

--IANS

ksc/rs/bg

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, April 12 2019. 17:36 IST
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