'Coolidge Corner Investment' Selected as Urban Regeneration Mother Fund Operator

Urban Regeneration Mother Fund Structure Diagram (Data provided by the Ministry of Land, Infrastructure and Transport)

The Ministry of Land, Infrastructure and Transport announced on the 31st that 'Coolidge Corner Investment' has been finally selected as the fund manager to lead the Urban Regeneration Mother Fund No. 3, which directly supports promising small and venture companies and youth startups within urban regeneration activation areas.

The Urban Regeneration Mother Fund No. 3 will be established with a total scale of 12.5 billion KRW, including 10 billion KRW from the Housing and Urban Fund (urban account) and 2.5 billion KRW from private investments.

This fund is structured as a public-private joint investment, combining the Housing and Urban Fund (urban account) and private investments, aiming to raise a total of 62.5 billion KRW over three years from 2019 to this year.

The Urban Regeneration Mother Funds No. 1 and No. 2 were established with a scale of 25 billion KRW and have been actively discovering and investing in companies since this year.

Coolidge Corner Investment was selected as the fund manager responsible for operating the Urban Regeneration Mother Fund No. 3 through the first round of document screening and on-site inspection, followed by the second round of presentation evaluation and investment review committee evaluation.

The fund manager will secure 2.5 billion KRW in private investment and complete the formation of the investment association within the year through the registration process of the startup investment association with the Ministry of SMEs and Startups.

Over the next 3 to 4 years, the fund manager plans to seek out various companies, focusing on small and venture companies that contribute to the recovery of social, cultural, environmental, and economic vitality in urban regeneration activation areas.

Investment returns recovered from companies that have grown will be reinvested in other urban regeneration companies, expected to realize the effect of a virtuous economic cycle.

Kim Gyu-cheol, head of the Urban Regeneration Project Planning Group at the Ministry of Land, Infrastructure and Transport, said, "Through the Urban Regeneration Mother Fund, small and venture companies and youth startups receiving investment will grow and create jobs within the region, revitalizing declining areas."

This content was produced with the assistance of AI translation services.