SK networks’ investment subsidiary to work with Bow Capital

Industry

Published: 31 May. 2023, 18:24

SK networks’ investment subsidiary to work with Bow Capital

Vivek Ranadive, left, Bow Capital managing director, and Choi Sung-hwan, SK networks president, pose for a photo during a ceremony celebrating the establishment of collaboration in Silicon Valley, California, on Tuesday. [SK NETWORKS]

SK networks’ investment subsidiary will work with Bow Capital, a U.S. venture fund, in early-stage venture investments, the parent company said Wednesday.

Hico Capital, a Silicon Valley-based subsidiary of SK networks, and Bow Capital will collaborate on early-stage investments in tech start-ups.

SK networks President Choi Sung-hwan will act as an adviser on investment sourcing and review possible joint projects, according to the company.

Bow Capital, based in Silicon Valley, California, was founded in 2016 by Vivek Ranadive, founder of Tibco Software and chairman of the National Basketball Association’s Sacramento Kings.

SK networks, which entered the early-stage corporate funding business in 2018, hopes to bolster its operational capabilities and expand its investment portfolio into companies beyond the early phase through collaboration with Bow Capital.

The two companies held a ceremony on Tuesday in Silicon Valley, California, marking the beginning of the collaboration, with Ranadive of Bow and Choi of SK networks in attendance.

“The establishment of this collaboration by Hico Capital will strengthen our investment capabilities and provide a foundation for expanding our global investment scope beyond the initial stage,” said an SK networks spokesperson.

In March, SK networks announced a $22 million investment in Humane, a U.S. AI company, through Hico Capital.

BY SHIN HA-NEE [shin.hanee@joongang.co.kr]