Smilegate Investment Reaches $40M Initial Close for Next Pacific AI Fund on June 23

According to Smilegate Investment, the South Korea-based venture capital firm reached an initial close of US$40 million on June 23 for its Next Pacific AI Fund. The fund will invest in U.S. pre-seed and seed-stage startups focused on B2B AI agents and AI-enabling technologies addressing bottlenecks across the AI stack, from data centers to end devices. Smilegate Investment, founded in 1999 and managing approximately US$585 million in assets, said additional closings with several limited partners are underway.
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