SparkLabs Global Ventures has launched a $30m seed-stage fund to help startups expand into international markets.
The new vehicle will be led by the co-founder of Korean accelerator SparkLabs, Bernard Moon, former Facebook executive Net Jacobsson and Frank Meehan, who was part of Li Ka-Shing’s Horizons Ventures team.
Moon said that SparkLabs Global Ventures “was founded on our strong momentum from our SparkLabs accelerator in South Korea, where we have already invested in 16 fantastic startups”.
Meehan said, “Entrepreneurs are no longer satisfied with just being a hit in their home market.
“They are hungry to bring their amazing products to the world, and are looking for experienced seed investors that can actively support them.
“For example Asia-based startups now have the management teams that can globalize, and they are poised for explosive growth.
“The investors in SparkLabs Global Ventures are very excited about being able to support our entrepreneurs’ expansion plans more effectively than other funds.”
In May this year Korean accelerator SparkLabs chose its second round of 10 investees including businesses outside of Korea.
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