Venture capital firm Formation 8 Partners kicked off “Formation 8 Day in Seoul” recently at Cheongdam’s CGV theatre and introduced its investment portfolio while expressing its desire to work closer with Korea.
Formation 8 Partners was founded by five partners including recognized top Silicon Valley investors Joe Lonsdale, Jim Kim and Brian Koo. The global fund invests in companies with potential in the IT and energy industry and aims to contribute to the development of the East Asian economy through links with countries including Korea, China and Singapore. Recently the firm managed to pass its goal of $400 million and raised $448 million, with the founders of leading companies including Yahoo, Paypal and Facebook taking part.
The recent global networking event was host to investors from countries including the US and China, as well as top young entrepreneurs and other business-minded folk from around the country. It stood out from other networking events (of which there are so many) with Silicon Valley VCs present — including special guest and General Partner of Khoslar Venture, Pierre Lamond.
The second half of the event was given a more “Silicon Valley” feel to it by recreating the format of network parties held in the valley. Companies that are part of Formation 8’s portfolio also introduced their products at the event including ContextLogic Korea, Encored Technolgies, AKA Study, Ntelligent Games, Thalmic Labs and Oculus VR.
Thalmic Labs’ MYO muscle control technology and Oculus’s virtual reality headset in particular were popular with the crowd as new and innovative ways to interact with technology are developed.