The steelmaker has formed a $4.3m early-stage investment vehicle that will be managed by its Postech Holdings subsidiary.
South Korea-based steel producer Posco has committed KRW5.1bn ($4.3m) to a newly formed corporate venturing unit, Pulse News reported yesterday.
Founded in 1968, Posco bills itself as the world’s fifth largest steel producer, with more than 29,500 employees and 164 international subsidiaries or offices.
Postech Holdings, a Posco subsidiary that provides seed funding for university-allied startups, will manage the early-stage fund, which will back graduates of an incubator and startup contest it runs called Idea Market Place.
The unit is…
