South Korean energy giant Daesung Ventures has set up a $84.5 million Motocosmos Fund

BlockBeats News, December 2nd, Daesung Private Equity, the venture-capital arm of South Korean energy giant Daesung, recently launched a 110 billion won ($84.5 million) Daesung Metaverse Scale-up Fund, The fund will focus on investing in startups in areas such as AI, XR, blockchain and digital twin technology. Korea Venture Investment Corp., a government-backed parent fund. To invest 60 billion won ($46 million) in the Won-Cosmos fund, with other limited partners including Industrial Bank of Korea (IBK), Shinhan Capital Co. Ltd. And other Daesung Group subsidiaries. Daesung Private Equity has previously invested in PUBG game maker KRAFTON and Dunamu Inc, operator of South Korean cryptocurrency trading platform Upbit.