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In brief: South Korean corporates back climate impact fund

Seoul-headquartered Envisioning Partners has raised $64m for its climate-focused venture capital fund, TechCrunch reports.

Seoul-headquartered venture capital firm Envisioning Partners has closed its dedicated climate fund at 77 billion Korean won ($64 million; €56 million) with backing from a number of South Korean corporates.

LPs include Hanwha Solutions, GS Holdings, IS Dongseo, Yesco Holdings, Hankuk Carbon, Insun ENT, Yellowdog and Musinsa, according to TechCrunch, which first reported this story.

Envisioning Partners aims to “increase the level of cooperation” between the corporate LPs and portfolio company founders to “support technology commercialization and business growth”, Hyunjoo Je, managing partner at Envisioning, told TechCrunch.