SK C&C partners with Storm Ventures to discover promising B2B startups
Jeong-Soo Hwang
Apr 06, 2023 (Gmt+09:00)
SK C&C's Kim Wan-jong, head of digital business (left) and Storm Ventures CEO Ryan Floyd South Korean IT services company SK C&C announced on Wednesday a partnership with American venture capital firm Storm Ventures to discover and collaborate with promising B2B technology startups.
The partnership aims to combine Storm Ventures' expertise in the digital market and new technology discovery with SK C&C's industry-specific digital information technology services (ITS) business capabilities to create a global digital innovation ecosystem.
Storm Ventures is a Silicon Valley-based venture capital firm that focuses on an early investment in B2B technology startups, with assets under management of $1 billion across seven funds. It has discovered and nurtured 12 unicorns, including the digital financial services platform, Solarisbank.
SK C&C plans to provide technical verification and optimal digital system application and expansion plans when Storm Ventures introduces its portfolio of promising startups.
The collaboration will focus on discovering business opportunities in the B2B AI-based sector, which is expected to see innovation with the emergence of giant AI.
The partnership with Storm Ventures is part of SK C&C's plan to accelerate the development of new digital ITS businesses by collaborating with other global venture capital firms to find promising startups. The company aims to improve the digital capabilities of Korean enterprise customers through cooperation with global promising startups.