500 Startups Launches A $15M Korea-Focused Fund Called 500 Kimchi — techcrunch.com

With its extremely high smartphone penetration rate, speedy broadband connections, and advanced economy, South Korea is one of the richest breeding grounds for tech innovation in Asia. 500 Startups, which has already made several investments in Korean companies, is digging deeper into the country with the launch of 500 Kimchi, a $15 million fund that will focus on mobile companies. 500 Kimchi will be managed by investing partner Tim Chae, who says the fund’s goal is to not only provide promising startups with seed funding, but also bring them to the attention of other Silicon Valley investors.

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