Former Facebook and Summly execs have launched a new $30m seed fund to take startups global.
SparkLabs will target the $30m pot of money at Asian, European and US startups, hoping to give them the resources to grow into companies with a global reach.
The organisation began as an accelerator in South Korea, where it invested in 16 startups, and is now collaborating with ex-Facebook exec Net Jacobsson and former Summly board director Frank Meehan on the angel fund covering Asia and the US.
SparkLabs co-founder Bernard Moon said: "It was a no-brainer. We immediately found our combined network and entrepreneurial experiences for many entrepreneurs an exciting value proposition."
Jacobsson added: "We are excited about this new fund since all of us enjoy helping other entrepreneurs and we know there are great entrepreneurs not only in Silicon Valley but throughout the world."
