Korea Development Bank (KDB) is a South Korean state-owned development bank founded in 1954 to finance and manage major industrial development projects. It provides corporate banking, investment banking, and venture capital/private equity investments, including managing the ₩7.5 trillion ($5.1 billion) National Growth Fund fiscal master fund to support deep tech, AI, semiconductors, and other strategic industries.
Deal activity increased 67% year-over-year (10 deals in the last 12 months). Average disclosed round size is $439.9M (across 83 rounds with reported amounts).
Portfolio
98
Fund Size
$5.1B
Top Stage
Series B
Last 12 Mo
10
Team
Shin, Hey Sook
National Growth Fund Division
Yun, Tae Jeong
Innovation & Growth Banking Division
Ahn, Seong Jin
Credit Review Division
Choi, Hyuck Soo
Finance and Administrative Support Division
Jeon, Seung Cheol
Independent Directors
Jeong, Seeun
Independent Directors
Kim, Choon Ho
Corporate Banking Division
Kim, Jae Shin
Auditor
Kim, Sang Kyun
Chief Compliance Officer
Kim, Woo Chan
Independent Directors
Lee, Bong Hee
Vice Chairman & COO
Portfolio Breakdown
Stage Distribution
Sector Distribution
Investment Activity
Portfolio
| Company | Round | Amount | Date |
|---|---|---|---|
| MMYCEL | Series A | $10M | Sep 2026 |
 Elisigen | Series C | — | Sep 2026 |
 Upstage | Series D | $381M | Aug 2026 |
 N.Light | Unknown | — | Aug 2026 |
| NNdotLight | Unknown | — | Aug 2026 |
 AB180 | Series C | $15M | Jul 2026 |
 UNASTELLA | Unknown | $24M | Jun 2026 |
 XCENA | Series B | $135M | May 2026 |
 Aniai | Seed | $4M | Jan 2026 |
 AiderX | Series A | — | Jan 2026 |
 Config | Seed | $27M | Jan 2026 |
| UNASTELLA | Series B | $24M | Jan 2026 |
| AB180 | Series C | $15M | Jan 2026 |
| MMeissa | Series C | $6.8M | Jan 2026 |
| RREADi Robust Machine | Series B | $9.7M | Jan 2026 |
| WWRTN | Series C | $72M | Jan 2026 |
| XCENA | Series B | $135M | Jan 2026 |
 Liner | Series C | $36.1M | Jan 2026 |
 Rebellions | Growth | — | Jan 2026 |
| RRedrob | Series A | $10M | Nov 2025 |
 ImmunoForge | Series C | — | Sep 2025 |
| Upstage | Series B | — | Aug 2025 |
 Illimis Therapeutics | Series B | — | Jul 2025 |
 Amogy | Growth | $80M | Jul 2025 |
 Han Pass | Series D | — | Mar 2025 |
Top Co-Investors
Last updated: 7 October 2026