GS Group accelerates investments in healthcare and pharma Korean conglomerate explores future growth opportunities in bio sector
Translated by Ryu Ho-joung 공개 2021-10-05 08:04:24
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)
< 저작권자 ⓒ 자본시장 미디어 'thebell', 무단 전재, 재배포 및 AI학습 이용 금지 >
관련기사
best clicks
최신뉴스 in 전체기사
-
- 회계법인 해솔, 부동산 타당성 자문 업무협약
- [2024 더벨 글로벌 투자 로드쇼-베트남]베트남의 지오영 '바이메드'·전기오토바이 '셀렉스' 눈길
- 지아이에스, 코스닥 상장 위한 예비심사신청서 제출
- [꿈틀대는 토큰증권 시장]'업계 표준' 루센트블록, '두자릿수' 레코드 조준
- [Company & IB]조달 '막바지' 롯데그룹, 롯데케미칼에 쏠리는 눈
- '910억 CB 발행' 아스트, 경영 정상화 속도 낸다
- [2024 더벨 글로벌 투자 로드쇼-베트남]"2030년까지 20개 유니콘 탄생, 지금이 투자 적기"
- [2024 더벨 글로벌 투자 로드쇼-베트남]"1억 인구, 평균연령 32세…증시 대세 상승 초입"
- [2024 더벨 글로벌 투자 로드쇼-베트남]지역별 강력한 세제 인센티브 매력 '인수합병 활발'
- '자사주 소각' 한미반도체, 주주가치 제고 재확인