SK Networks, announced on August 16 a $30 million investment in the newly established Alpha Intelligence Fund. This fund, created by global venture capital firm SBVA, has a total scale of $130 million and will focus on early-stage startups in AI, robotics, and deep tech. SK Networks’ investment positions it as the second-largest contributor to the fund, furthering its commitment to technological innovation.
Managed by SBVA, which was acquired by The Edgeof in 2023, the Alpha Intelligence Fund aims to back startups that are driving the next wave of technological advancements. With assets under management of approximately $1.85 billion, SBVA has a global presence across key tech hubs, including Seoul, San Francisco, and Israel.
This move is part of SK Networks’ broader strategy to embed AI into its business models and seek out new opportunities. The company has been actively investing in tech-driven ventures, including a recent joint investment with SBVA in AI startup Upstage and the co-hosting of the “AI WAVE 2023” forum.
Since its entry into tech investments in 2020, SK Networks has focused on leveraging AI to enhance its existing businesses. The creation of “PhnyX Lab” earlier this year underscores its commitment to driving AI-based innovation across its subsidiaries, including SK Magic and Walkerhill.
Through this investment, SK Networks aims to introduce cutting-edge AI solutions that will not only boost customer value but also contribute to its economic and social impact.
