Korea Development Bank and Others Invest 28 Billion KRW in Front One Fund to Revitalize Youth Entrepreneurship

KDB Industrial Bank, Korea Growth Finance, and D.CAMP Jointly Invest 28 Billion KRW
Two Funds Totaling 42 Billion KRW to Be Established

[Asia Economy Reporter Park Sun-mi] Korea Development Bank, Korea Growth Investment Corporation, and the Banks’ Youth Startup Foundation (D.CAMP) announced on the 8th that they will establish the 'Front1 Fund' worth a total of 42 billion KRW to support the government’s youth startup policies and to revitalize Front1, the world’s largest startup complex support space.

This second phase of the Front1 Fund, originally established in July 2020 alongside the opening of Front1 with a scale of 43.6 billion KRW, focuses more on ▲activating youth startups and ▲expanding investments in companies participating in D-Day.

It plans to offer youth startup companies not only opportunities to attract investment funds but also chances to participate in various residency supports and startup support programs at Front1. In particular, the fund is structured into two parts: the 'Youth Startup League,' focused on supporting youth startups, and the 'D-Day League,' designed to connect startups with the preferred demo day program, D-Day investment, thereby providing tailored investment resources for startup companies. The planned investment amounts for the Youth Startup League and D-Day League are 18 billion KRW and 10 billion KRW respectively, with fund sizes of at least 30 billion KRW and 12 billion KRW respectively.

A representative from KDB stated, "The three institutions participating in this investment will continue their support so that the younger generation can become a new growth engine in the post-COVID-19 era through this joint investment project."

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