# KDB Investment

KDB Investment is an Asset Manager based in Seoul, South Korea.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** Seoul, South Korea
- **Region:** Asia
- **Address:** Seoul, South Korea
- **Founded:** 2019
- **Assets under management:** Undisclosed
- **Website:** www.kdbinv.co.kr
- **LinkedIn:** https://linkedin.com/company/kdbinv

## Regulatory record

- **Reports private funds:** No

## About

KDB Investment is a private equity firm that focuses on operational value creation through business transformation and corporate turnaround activities. The firm has made 5 investments, including a Seed VC investment in FriendliAI on August 28, 2025. KDB Investment has a single portfolio exit, Orum Therapeutics, which occurred on February 14, 2025.

## Sectors

- Restructuring

## Questions

### What is KDB Investment's relationship to Korea Development Bank?

KDB Investment operates as a direct investment and special-situations unit within Korea Development Bank, South Korea's wholly state-owned policy lender. It is not a separately incorporated private fund but a dedicated arm of KDB tasked with executing corporate restructurings and managing distressed equity and debt positions. Its mandate and capital base derive from KDB's public-policy function rather than from third-party limited partners.

### How does KDB Investment differ from a conventional distressed-asset fund?

Unlike a private-sector distressed fund focused on maximizing risk-adjusted returns for limited partners, KDB Investment operates under a dual mandate that incorporates national industrial-policy objectives. It frequently holds restructured equity positions for extended periods to stabilize employment and supply chains, and its exit timing is influenced by state assessments of sectoral health rather than fund life constraints. Its capital is also drawn directly from KDB's balance sheet, eliminating fund-raise cycles and limited-partner liquidity pressures.

### Does KDB Investment accept external capital or open funds to third-party investors?

KDB Investment does not maintain a conventional fund structure open to institutional allocators, and it does not raise capital from private limited partners. Its investment capital comes from KDB's state-funded balance sheet. Separate KDB ventures, such as the KDB Special Situations Fund, have historically co-invested with private institutions on non-performing loan portfolios, but KDB Investment's direct restructuring equity positions are state-funded.

### Who makes investment decisions at KDB Investment?

Investment decisions are made by senior investment professionals within KDB Investment under governance that is integrated with KDB's broader management hierarchy. Because KDB Investment is an internal unit of the policy bank rather than an independent firm, its committee structure and ultimate decision authorities are interlocked with KDB's executive leadership and ultimately subject to the oversight of the Korean government as the bank's sole shareholder.

## Related profiles

- [KDB Infrastructure Investments Asset Management](https://altss.com/profile/kdb-infrastructure-investments-asset-management)
- [KDC Media Fund](https://altss.com/profile/kdc-media-fund)

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Last updated: 2026-06-03T20:00:00.000Z

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