Online chat service and internet portal Daum Kakao has acquired the venture firm and plans to turn it into its corporate venturing arm.
South Korea-based diversified internet company Daum Kakao has acquired early-stage venture capital firm K Cube Ventures for an undisclosed amount, Tech in Asia reported earlier today.
Daum Kakao is also investing a further $15m in K Cube’s fund, and will effectively use the firm as its corporate venturing arm. In December 2014, Daum Kakao set up a $91m corporate venturing division, K Venture Group, but has not yet revealed how the K Cube deal will affect that unit’s future.
K…
