South Korea’s Hana Financial Investment has joined hands with a Chinese investment company to set up a $100 million fund that will invest explicitly in small tech firms with global ambitions.

Hana Financial Investment signed an agreement with Cybernaut International Holdings on co-financing the fund in Seoul on Wednesday.

The two aims to launch the venture capital fund as early as in the first half of this year to invest in companies related to the fourth industrial revolution, healthcare and other emerging industries.

Cybernaut International Holdings was established in Hong Kong by China’s venture capital firm Cybernaut Investment Group which has about 34 trillion won ($31.81 billion) under management.

Cybernaut Investment Group will play a role as a bridge for Korean start-ups hoping to enter the Chinese market, Hana Financial Investment said.

"Our mission as a financial company is to discover new and promising companies in the era of the fourth industrial revolution and generate profits from investment in such companies. Our venture fund will provide an opportunity for Korean start-ups to tap into China,” said Lee Jin-gook, head of Hana Financial Investment

By Chun Kyung-woon and Minu Kim

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