The Ministry of SMEs and Startups is set to launch its largest-ever Global Fund, a massive KRW 2.4 trillion initiative designed to attract foreign investment into Korean startups. This year, the ministry will partner with 13 overseas venture capital firms to operate the fund, which will mandate a record-breaking KRW 270 billion in investment for Korean companies.
The Global Fund program, which has been in operation since 2013, allows Korea’s Fund of Funds to invest in overseas venture capital funds. In return, these foreign firms are required to invest a specific amount of capital in Korean companies. This model has already established 74 funds worldwide with a total value of over KRW 12.3 trillion.
Here are the 13 venture capital firms selected as this year’s Global Fund operators
- Singapore: TNB Aura, Alpha JWC Ventures
- Japan: DCI Partners
- Taiwan: AppWorks Ventures
- United States: Nyca Partners, Hustle Fund, Strong Ventures, Sazze Partners, TTCP(Secondary fund)
- United Kingdom: Crane Venture Partners, AP Ventures(Climate)
- France: Korelya Capital, Jolt Capital(AI)
