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IDG Ventures establishes $100m technology fund for Korea20/11/2007. Source: AltAssets. 
 IDG Ventures, the private equity arm of International Data Group (IDG), has established a $100m fund for investment in Korea. IDG Ventures Korea will target early stage investments in technology and technology-enabled companies operating across various industry sectors including the new media, environment, healthcare, education, content-creation, services and other emerging technology-enabled sectors.
IDG, which also operates out of Boston, San Francisco, London, China and Vietnam, opened the Korea office in October of this year.
Duk-Hwan Oh, managing general partner, IDG Ventures Korea, said, 'Our goal is to help entrepreneurs build category-leading companies in Korea and global markets.
'We intend to invest in 30-50 companies within the next five years. While around 70 per cent of our investments will be in companies based in Korea, we will also invest in companies outside Korea that want to leverage Korean companies as critical offshore cooperative partners or want to drive significant sales revenue from the Korean market,' Duk-Hwan Oh continued.
IDG intends to make a first round of investments from its new fund in December of this year, according to a statement.
With the addition of the new fund, IDG has funds under management of approximately $2bn.
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