Goodwin Advises on the Formation of IOWN AI Fund
The Asia Private Investment Funds team at Goodwin has successfully advised on the formation of IOWN AI Fund, L.P. (“IOWN AI Fund”), an investment fund aimed at building the IOWN ecosystem and creating new business opportunities through investments in cutting-edge technologies for the AI era. In connection with the formation of the IOWN AI Fund, Catalight Capital, Inc., ("Catalight Capital") will also be established as a fund management company with operations in Silicon Valley and Tokyo.
The following members participate as operating partners in the IOWN AI Fund:
- NTT, Inc., which announced the IOWN concept in 2019 and has led the IOWN Global Forum;
- Mr. Young Sohn, who is based in Silicon Valley and has extensive experience in venture investment and corporate management in Deep Tech, particularly optical communications and semiconductors;
- SK Group, which leads technological innovation and the deployment of advanced technologies in the AI and semiconductor fields;
- Chunghwa Telecom Co., Ltd., which extends the international expansion of IOWN through initiatives such as APN proof-of-concept trials with NTT; and
- Development Bank of Japan Inc., which has a strong track record in providing growth capital and risk capital to companies and projects in Japan and overseas.
The Goodwin team was led by partner Youjung Byon, with support from counsel Alicia Shi, international legal counsel Rainy Ren, and associate Jia Fen Chan on fund formation matters, Romina Weiss, Matthew Dunay, and Shlomo Gottesman on US tax matters, Daniel Ji and Jennifer Kelefant on US securities and regulatory matters, William Stern on financial regulatory matters, Lee Douthitt on employment matters, and Andrew Henderson on European regulatory matters.