Logo of LG Electronics
SEOUL — LG Electronics (LG) is making significant investments in startups specializing in artificial intelligence (AI) and deep tech. It has committed USD 10 million as a key limited partner in the newly established USD 130 million “Alpha Intelligence Fund (AIF)” by SBVA, which will curate a portfolio for AIF by selecting startups with high growth potential in AI, deep tech and robotics.
Through this investment, LG aims to expand cooperation with innovative startups and continue efforts to secure future technologies. The company plans to strengthen its networking with global companies and startups, discover additional opportunities for strategic investments and secure technological capabilities for future businesses.
LG intends to accelerate its transformation into a “Smart Life Solutions” company by securing innovative technologies for its key growth engines, including platform-based service businesses, B2B businesses and other new ventures. The company plans to continue efforts to secure future core technologies and expand its business areas beyond the home to business spaces, mobility and more.
“By participating in the AIF, we aim to secure AI capabilities through active open innovation activities and strengthen our position within the AI value chain,” said Eugene Yoo, vice president and leader of the Open Innovation Task at LG. “We plan to discover and collaborate with capable startups to explore future business opportunities.”
“We will continue to make investments that accelerate technological innovation, leveraging our differentiated technical expertise, global network and investment experience. We plan to maximize the growth potential of these companies by supporting the establishment of joint ventures with startups and major investors, and by promoting collaborative business projects,” said SBVA CEO JP Lee.
