LG Technology Venture Capital Company has set up a new 400 billion won fund to expand investment in AI and other areas.

CTOnews.com, November 19 (Xinhua)-- LG Technology Venture Capital, a subsidiary of the LG Group, said in a statement today that it has set up a fund of 400 billion won (CTOnews.com Note: currently about 2.232 billion yuan) to continue to support global start-ups in artificial intelligence, batteries and mobile.

The new funding comes from four LG Group subsidiaries, including LG Energy Solutions Co., Ltd. And LG Chemical Co., Ltd., bringing the company's total assets under management to 1 trillion won, the company said in a statement.

According to public data, LG Group established an enterprise venture capital company in Silicon Valley in 2018 with a fund size of 600 billion won (currently about 3.348 billion yuan). It has so far invested more than 400 billion won in companies, including Anthropic.