KB Group, a South Korean financial services provider, has partnered with Elev8 Venture Partners as an anchor investor and Co-GP through its subsidiary KB Investment. KB has committed $100 million including co-investments, to the total fund size.

KB investment is part of KB holdings which manages over $400 billion of assets. Prior to this, KB group had invested in companies like Pharmeasy, Spinny, Tracxn, Fareye, Rupeek, Vedantu, etc. Going forward, KB Group will work closely with Elev8 to identify investment opportunities in India’s leading technology companies and to support Elev8 with portfolio management.

Eric Yoo, Executive Managing Director of KB investment, said, “We have spent over a year with diligence and concluded that Elev8’s management team is by far the best team to invest in at the growth stage. Their exceptional track record, prospective portfolio pipeline, and proprietary data algorithms have presented a strong proposition for us to join hands.”

The firm’s global experience, operational capabilities, and network of strategic relationships in multiple locations will assist Elev8’s portfolio companies to expand their global presence and strengthen their products in markets where KB has already established a strong network through partnerships and investments, said the company.

Elev8 VP is an India-Focused Technology Growth Stage Fund. Elev8 will focus on Series B and C rounds of financing in hyper growth companies. The fund will be India’s first Pro Rata fund which has partnered with India’s leading micro funds and super angels to invest in their winning portfolio companies.

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