<article>South Korean accelerator and fund network SparkLabs Group&#8217;s Taiwanese programme, SparkLabs Taipei, has raised $4.25 million from 11 investors for its first venture capital fund, according to an SEC filing.</article>

South Korean accelerator and fund network SparkLabs Group&#8217;s Taiwanese programme, SparkLabs Taipei, has raised $4.25 million from 11 investors for its first venture capital fund, according to an SEC filing.
According to the filing, the fund &#8211; SparkLabs Taipei Fund II LP &#8211; has a fundraising target of $10 million and will be managed by SparkLabs Taipei co-founder and managing partner Edgar Chiu, who was COO of Taipei-based app developer Gogolook which was then acquired by Korean internet giant, Naver.
SparkLabs Taipei was launched about a year ago, with the aim of preparing local startups for international expansion. It is believed that the three-month accelerator programme has already selected its first batch of seed and early-stage startups to work with.
Typically, SparkLabs invests up to $40,000 in all startups in its accelerator programme in exchange for up to 6 per cent equity of the company, and each startup gets matched with four to six mentors, according to its website. The accelerator is eyeing to work with internet startups in the AI, e-commerce, digital healthcare, robotics, cybersecuity and consumer products verticals.
Korea-headquartered SparkLabs Group has accelerators in Beijing, Seoul and Songdo. It is also planning to launch a fintech accelerator in Hong Kong this year.
Last October, the group launched a $100-million fund &#8211; SparkChain Capital &#8211; to back blockchain and cryptocurrency startups in four key markets of US, Japan, China and South Korea.
Its Seoul accelerator programme has hit the <a href="https://www.dealstreetasia.com/stories/sparklabs-vc-fund-close-105495/">first close of its second VC fund</a> at $6.18 million this August, which also has a target of $10 million. The SparkLabs Korean Fund II follows a <a href="https://www.dealstreetasia.com/stories/korea-sparklabs-ventures-50m-corpus-80987/">$50-million fundraising</a> for SparkLabs Korea Fund  last August.
Also read:
<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/sparklabs-vc-fund-close-105495/">S Korea’s SparkLabs hits first close of second VC fund at $6.18m</a>
<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/sparklabs-launches-100m-fund-blockchain-startups-84577/">S Korea’s SparkLabs launches $100m fund to back blockchain startups</a>

SparkLabs Taipei Fund II LP, has a target of $10 million and will be managed by SparkLabs Taipei co-founder and managing partner Edgar Chiu.

SparkLabs Taipei raises $4.25m for $10m venture capital fund

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SparkLabs Taipei raises $4.25m for $10m venture capital fund

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