FKI signs pact with Israeli venture capitalist firm

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FKI signs pact with Israeli venture capitalist firm

The Federation of Korean Industries (FKI), Korea’s major business lobby group, on Thursday signed an initial pact with Israeli venture capital firm Yozma Group for a partnership to support start-ups here.

FKI Chairman Huh Chang-soo and Yozma Group Chairman Yigal Erlich signed a memorandum of understanding to promote exchanges between venture firms of the two countries in the short term and to support Korean venture start-ups with Yozma’s experience and knowhow in new ventures, the FKI said in a statement.

Founded in 1993, the Tel Aviv-headquartered group is known as a trailblazer in the Israeli venture capital sector. It has invested in more than 20 companies that went public on the tech-heavy Nasdaq.

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