Ascendo New Horizon Fund Formation

It is with much gratitude and thanks to our partners that we proudly announce the establishment of Ascendo Ventures’ second fund, the Ascendo New Horizon Fund. Below is media coverage in both Korean and English.

The Bell Korea – Ascendo New Horizon Fund (Korean)

Tech in Asia – Ascendo New Horizon Fund (English)

The Ascendo New Horizon Fund primarily targets investments in top-tier Korean early-stage tech startups incorporating ESG values and positively impacting carbon emissions reductions. The core focus areas are as follows:

• Digital contactless tech services and platforms positively impacting emissions reductions

• IoT, AI, and robotics technology driving operational efficiency

• Environmental and climate related renewable energy, energy grid, new materials, and waste disposal technologies

• Digital healthcare and food tech enabling more sustainable and healthier living for all

• Blockchain technology focused on decentralized governance and protocol economies

The fund’s total size is 38.7 billion won (approximately US$ 34 million), and it will invest in tech startups in the pre-series A to stage B fundraising stages. Particularly as early-stage investors and startup life cycle partners, we look forward to investing in and enabling portfolio companies of the Ascendo New Horizon Fund with the following strategic approaches in mind.

• Active follow-on investment: When our portfolio companies demonstrate meaningful development and growth, we seek to participate and show our commitment to grow together as long-term partners through continuous follow-on investment.

• We strive to provide value-added support to our portfolio companies out of respect and empathy: Due to the respect and conviction we have in entrepreneurs we back, we want to be a partner that contributes to the growth of our portfolio companies by providing meaningful help and value through our extensive investment and operational experiences, as well as our networks.

• Utilizing our global network: Through our wide-ranging global networks particularly in Asia and the United States, we want to facilitate the discovery and connecting of key partners, global investors, and key talent through our network particularly as companies engage in global expansion or seek overseas business partnerships.

We sincerely look forward to discovering, investing in and partnering with more exceptional founders through the Ascendo New Horizon Fund, and are excited to join them in the challenging journeys that lie ahead!