이 기사는 2021년 10월 05일 08:01 thebell 에 표출된 기사입니다.

GS Group is speeding up investments in the healthcare and pharmaceutical industries after its acquisition of botox maker Hugel, as the South Korean conglomerate is looking for future growth drivers in bio technology.

GS Holdings, the conglomerate’s holding company, put additional money into a fund of Seoul-based startup accelerator Bluepoint Partners in August, according to industry sources, bringing the company’s overall investment in the fund to 3 billion won ($2.5 million), which represents 25% of the fund’s total size.

Part of the company’s commitment in the fund was used earlier this year to invest in two bio-tech startups, including CutisBio, which specializes in developing treatments in skin aging and skin cancer as well as functional cosmetics ingredients.

GS Group invests in the bio sector mostly through funds. Four funds have so far received commitments from the conglomerate. Apart from Bluepoint, GS Group invested a total of 1.84 billion won in venture capital firm LSK Investment’s third fund earlier this year, with its commitments representing 7.27% of the fund’s total value.

In March, GS Group put 1 billion won into CBC Group’s fund, C-Bridge healthcare Fund V. The Singapore-headquartered investment firm, focused on bio and healthcare companies across Asia, is part of the GS-led consortium which won the bidding war for Hugel in August.

The conglomerate also invested 1 billion won in venture capital firm Intervest’s fund. The amount represents 4.6% of the fund’s total size.

GS Group still maintains its conservative investment policy, but the recent investments in the bio space signals a clear change in its attitude, industry watchers said. The conglomerate intends to continue to explore investment opportunities in bio-tech startups.

GS Holdings plans to establish a corporate venture capital fund later this year to accelerate investing in the bio space. To that end, the company revised its articles of incorporation to add financial services to its business purpose at this year’s general meeting in March. (Reporting by Ah-kyoung Lee)