South Korean energy giant Daesung establishes a $84.5 million metaverse fund

ChainCatcher news, Daesung Private Equity, the venture capital subsidiary of South Korea's urban gas and energy giant Daesung, has recently established a metaverse fund, the Daesung Metaverse Scale-up Fund, with a size of 110 billion KRW (approximately 84.5 million USD). This fund will focus on investments in areas such as AI, XR, blockchain, and digital twin technologies.

The Korea Venture Investment Corp., a government-supported mother fund, has injected 60 billion KRW (46 million USD) into the metaverse fund, with other limited partners including Industrial Bank of Korea (IBK), Shinhan Capital Co. Ltd., and Daesung Group subsidiaries.

It is reported that Daesung Private Equity has previously invested in PUBG, the game manufacturer KRAFTON, and Dunamu Inc., the operator of the South Korean cryptocurrency exchange Upbit. (source link)