Born2Global Centre announced on April 26th the establishment of the “Argentina-Korea Venture Capital Council (AKVCC)” to promote the investment of joint ventures between innovative deep-tech startups in South Korea and Latin America. The AKVCC was organized by the Argentine Embassy in Korea and ten global and Korean venture capitals, with Born2Global Centre as the Secretariat of the council.
The ten participating venture capitals of the AKVCC are the Argentine Association of Private Equity Venture and Seed Capital (ARCAP), YPF Ventures, Grid-X, Checkmate Capital Group, Bluepoint Partners, DT&Investment, L&S Venture Capital, Quad Ventures, Spark Lab Ventures, and Wit Unlimited.
To launch the AKVCC, Born2Global Centre held a founders’ meeting on April 23rd at Pangyo Startup Campus where Juan Manuel Giner Gonzalez the Executive Director of ARCAP, Tomas Ocampo the Managing Director of YPF Ventures, Matias Jorge Peire the Founder of Grid-X, Alfredo Bascou the Ambassador of the Argentine Embassy in Korea, and global VCs and startups were present during the inaugural meeting.
The founding members of the AKVCC agreed on the necessity of international engagement and collaboration as a prerequisite to national economic competitiveness and global growth. In addition, through the establishment of the AKVCC, they agreed to share experiences and collaborate on creating a global fund investing in deep tech for joint ventures between the two countries.
Juan Manuel Giner Gonzalez, the Executive Director of ARCAP said, “Argentina is the second-largest country that has produced unicorns in Latin America, where global investment in deep-tech startups is increasing every year. We will actively collaborate to help startups from both countries expand their business in Latin America, and in the global market."
With the visit of the Argentine venture capitals to Korea, an IR session was held to connect the startup members of Born2Global Centre with the opportunity to attract global investment, introducing their technologies and solutions to the global VCs. The participating startups were ULikeKorea (livestock monitoring service), Fitogether (athlete performance data analysis platform), and Dtonic (space-time big data engineering platform).
Moreover, Born2Global Centre presented a Korean startup Coconut Silo (cargo transportation platform service) and an Argentine startup Avancargo (SaaS-based logistics platform service) as a case of joint venture partnership between Latin America and Korea.
JongKap Kim, the Chief Executive Director of the Bon2Global Centre said, “The Argentina-Korea Venture Capital Council is the first bilateral consultative body in Korea with the singular purpose of promoting the formation of joint ventures and the establishment of an investment fund for the innovative startups of the two nations. We hope that the launch of the AKVCC will open up mutual investment opportunities for the VCs.”