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- $30M Investment in 'Alpha Intelligence Fund'
- Expected to Unlock AI Business Opportunities and Drive Corporate Growth through Strategic Partnerships with Promising Startups
- "We’ll Leverage Our Capabilities and Financial Resources to Fast-Track AI Implementation and Create New Value for the Future."

SK Networks, committed to elevating corporate value through AI-driven innovation, is set to take a leading role in a major global AI fund, managed by top venture capital firm SBVA. This strategic move aims to strengthen its industry connections and unlock new business opportunities.

On August 19, SK Networks (CEO: Hojeong Lee) announced its pledge of $30 million to the newly launched ‘Alpha Intelligence Fund,’ managed by SBVA With a total capital of $130 million, SK Networks’ contribution represents the second-largest investment among the participating companies.

The Alpha Intelligence Fund will focus on nurturing promising early-stage startups within AI, robotics, and deep tech—areas where SBVA has established deep expertise. This aligns with SK Networks’ vision, unveiled earlier this year, to evolve into an AI-centric company. Beyond mere financial investment, SK Networks plans to forge strategic partnerships with these up-and-coming AI innovators.

SBVA originally emerged as a startup investment firm under the SoftBank Group umbrella. In 2023, it was acquired by The Edgeof, a venture co-founded by Mistletoe Chairman Taizo Son, a prominent figure in the global venture investment landscape, SBVA CEO Lee Jun-pyo, and Mistletoe Managing Director Atsushi Taira. SBVA now manages assets worth 2.5 trillion won and operates offices in Seoul, Beijing, Singapore, San Francisco, and Israel, overseeing more than 100 global investment portfolios.

SK Networks' engagement with the Alpha Intelligence Fund is a testament to its solid track record in AI and technology investments, as well as the strong bond and collaborative spirit it has cultivated with SBVA.

Since its entry into the hyperscale data center fund in 2020, SK Networks has broadened its tech investments to include AI and beyond. This year, the company rolled out "PhnyX Lab," a state-of-the-art team of AI specialists dedicated to driving innovation across its subsidiaries. The company has also nurtured a robust relationship with SBVA since joining the Future Innovation Fund III in 2021. Towards the end of last year, the two organizations teamed up to host the "AI WAVE 2023" forum, where they exchanged insights on the transformative future impact of AI. Earlier this year, they further strengthened their partnership by investing in the AI startup "Upstage."

By participating in the fund, SK Networks aims to work closely with investment management firms from the early stages of investment review to uncover new business opportunities. The strategy is to capitalize on SBVA's extensive AI startup portfolio and network, which spans from infrastructure to applications in the global market. Additionally, SK Networks is set to pursue new growth opportunities through strategic partnerships and acquisitions with promising AI startups. To facilitate this, the company has integrated provisions addressing business opportunities and rights in the contract structure. Furthermore, the company plans to speed up the implementation of its AI strategies by consolidating its capabilities and deploying SK Networks' own AI solutions, thereby increasing value for stakeholders, including employees, customers, and shareholders.

An official from SK Networks stated, "This fund investment will help us explore new ways to enhance customer value by integrating AI into our business models, including SK Magic, Encore, and Walkerhill, and drive our company’s evolution." They also emphasized, "We are dedicated to channeling our resources and expertise into AI, aiming to launch groundbreaking products and services while continually creating economic and social value.""