LG Invests $10M in AI Fund: Boosting Tech Innovation.

Seoul, South Korea—LG Electronics (LG) has invested $10 million in the newly established $130 million Alpha Intelligence Fund (AIF) managed by SBVA. 

The fund focuses on startups in artificial intelligence (AI), deep tech, and robotics.

The investment aims to expand LG's cooperation with innovative startups and secure future technologies. 

LG plans to use this opportunity to strengthen its networking with leading global companies and startups and discover additional strategic investment opportunities.

SBVA, formerly part of the SoftBank Group, will curate the AIF portfolio by selecting high-growth potential startups in AI, deep tech, and robotics. 

The firm plans to leverage its global networks and resources to support these startups' growth.

Eugene Yoo, LG's vice president and leader of the Open Innovation Task, stated, 

"By participating in the AIF, we aim to secure AI capabilities through active open innovation activities and strengthen our position within the AI value chain."

LG intends to accelerate its transformation into a "Smart Life Solutions" company by securing innovative technologies for key growth areas, including platform-based service businesses and B2B ventures.

This investment follows LG's recent acquisitions and investments in the tech sector.

In July, LG acquired an 80% stake in Athom, a Dutch smart home platform company, with plans to acquire the remaining 20% within three years. 

In March, LG invested $60 million in Bear Robotics, an AI-based autonomous service robot startup in Silicon Valley.

LG continues to explore new business opportunities through its Silicon Valley-based innovation center, LG NOVA. 

This center conducts annual contests to discover and nurture startups with innovative ideas.

SBVA, which manages assets totaling approximately $2 billion AUM, plans to conduct a second closing within the year to increase the size of the AIF.