CBC Group, the world's largest healthcare-focused investment manager, has announced a $300 million fund in partnership with Korea Investment Corporation (KIC) to back South Korean biotechs with global growth potential. The move signals a major capital inflow into the country's aesthetic and therapeutic biotech ecosystem, offering overseas buyers and distributors a new pipeline of innovative injectables and devices.
Fund structure and timeline
CBC Group and KIC will jointly establish the 'New Bridge' fund, with the first close targeting $220 million this year and a final close of $300 million by next year. KIC will commit $150 million as a strategic investor. The fund is expected to launch by summer 2025, according to a press briefing held on March 10 in Seoul.
Investment focus on early-stage biotechs
The fund will primarily invest in South Korean biotechs currently in Phase 1 or Phase 2 clinical trials. CBC Group aims to identify companies with strong research capabilities and global scalability, similar to Hugel, the botulinum toxin maker it acquired in 2021. Hugel later received FDA approval for its product Letybo in 2024 and expanded into about 70 countries.
NewCo structure introduced for Korean market
CBC Group will introduce the 'NewCo' structure to South Korea for the first time. This model involves securing intellectual property (IP) and creating separate portfolio companies under the fund to enhance enterprise value. The approach is widely used in major markets to de-risk clinical development and accelerate commercialization.
Leadership and market rationale
Two Korean-born executives are leading CBC Group's push into South Korea: Michael Kyung (Han-soo Kyung), a former physician and co-founder of Genexine and Fotola Capital Partners, and Billy Cho (Ki-chul Cho), a finance and IB veteran with CFO experience at Zai Lab. They cited Korea's strong research ecosystem but noted a funding gap for early-stage biotechs, making strategic capital essential.
What buyers should watch
For overseas importers and distributors of medical aesthetics products, this fund could generate a new wave of Korean-origin injectables, including botulinum toxins, fillers, and other biotech-derived devices. Companies backed by CBC Group may seek global partners for distribution, licensing, or co-development. The fund's focus on clinical-stage assets suggests that products may reach market within 3–5 years, offering early-mover opportunities for buyers who establish relationships now.
Source: Read the original report | Published: June 12, 2026