Sectors
Aerospace & Frontier

Systems that move, fly, and heal — from orbit to the laboratory bench.
Compute & Digital Infrastructure

The silicon, systems, facilities, and digital rails on which the next decades will run.
Services
Capital

We invest our own conviction, and help exceptional technology companies raise the capital they need.
- Principal Investments
- Capital Formation & Fundraising
Technology Advisory

Independent evaluation of technology — for investors, boards, lenders, corporates, and counsel.
About
Track Record
News
Contact

Korea's National Growth Fund makes first biotech bet: US$323m to LigaChem.

₩500bn into ADC developer LigaChem Biosciences — from a vehicle that had previously backed only AI chip designers.

Jun 2026Bio & Life SciencesSolomon Partners Briefing

LigaChem Biosciences has raised ₩500 billion (US$323m) from Korea's National Growth Fund — the fund's first direct equity position in a life-sciences company, from a vehicle that had previously confined its bets to AI chip designers.

LigaChem is Korea's flagship antibody-drug-conjugate (ADC) platform, with a string of global out-licensing deals validating its conjugation chemistry. The state capital arrives as ADCs remain among the most sought-after modalities in global pharma deal-making.

The signal is in the allocation: Korea's sovereign growth capital now treats biotech platforms as strategic technology on par with semiconductors — a policy elevation with consequences for how the domestic sector is funded and valued.

Our read.

Sovereign anchor capital changes a platform company's negotiating position — it can hold assets longer and license later, capturing more value per program. Watch whether this becomes a program, not a one-off; a funded pipeline of national bio champions would re-rate the sector.

Source: this briefing summarizes reporting by Korea Biomedical Review, Jun 2026. Prepared by SOLOMON PARTNERS for general information only; not investment advice. Figures as reported at the date shown.

← Back to News & Insights

Important notice. SOLOMON PARTNERS is a privately held investment and advisory firm. Information on this website is general in nature and does not constitute an offer, solicitation, or investment, legal, or accounting advice. Technology assessments, due diligence reports, and opinions are prepared only under written engagement terms. Where the placement of securities is a regulated activity, it is conducted with duly licensed partners. Please review our disclosures.