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LG Group forms venture capital firm in United States

June 05,2018
LG Group has set up LG Technology Ventures in the United States in the latest effort to find promising start-ups engaging in robots, artificial intelligence and auto parts, a company official said Monday.

LG Technology Ventures, an investment arm of the Korean conglomerate, will manage four separate funds worth a total of $400 million, the official said. The latest move comes as its global rivals are pushing to strengthen their capabilities in AI research and development.