Gyeonggawon, Superman Fund No.1 Liquidates After Investing in 18 Companies... Contributing to Job Creation and More

Gyeonggi-do Economic Science Promotion Agency

Gyeonggi Province and the Gyeonggi Economic Science Promotion Agency successfully operated the 'Superman Fund No. 1,' established to lead the stable growth of promising startups and innovative technology companies within the province, and held a dissolution general meeting on the 21st.

Superman Fund No. 1 is a fund that invests in promising startups, venture companies, and early-stage startups in the province with outstanding technological capabilities. It began operations in August 2015. The total fund size is 20 billion KRW, with Gyeonggi Province contributing 5 billion KRW and the management company and other partners contributing 15 billion KRW.

The fund has invested in 18 companies in sectors such as bio and electrical/electronics.

As of the end of last year, the average sales of invested companies increased by 76% compared to the initial investment year, and the average employment size grew by 51%. Among the invested companies, five were listed on KOSDAQ, and three on KONEX. Additionally, one company was selected as a 'pre-unicorn company.'

In particular, Company A, a bio-specialized company located in Seongnam, faced difficulties securing research and development funds in its early stages but received investment from the Gyeonggi Province fund in 2016. It continued R&D efforts and was listed on KOSDAQ in 2020. The number of employees increased significantly from 11 to 122, greatly contributing to job creation.

Gyeonggi Province invested 5 billion KRW in Superman Fund No. 1 and recovered 10 billion KRW as of August this year, achieving a 100% return. Furthermore, additional profits are expected during the approximately one-year liquidation period after dissolution.

Gyeonggi Province plans to use all investment returns as resources for creating new G-Funds in the province to discover and support more local companies.

Kang Seong-cheon, Director of the Gyeonggi Economic Science Promotion Agency, stated, "Active and continuous investment is necessary to drive the growth of small and medium-sized enterprises in the province," adding, "We will continue to strive to provide more opportunities to local companies through the G-Fund."

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