Shinbo Partners with 9 Private VCs to Boost Regional Investment Activation

Signing of a Business Agreement to Discover and Promote Investment in Regional and Innovative Startup Companies

The Korea Credit Guarantee Fund (KODIT) has decided to join hands with the venture capital (VC) industry to revitalize regional investment.

On the 6th, KODIT announced that it signed a 'Multilateral Memorandum of Understanding for the Activation of Investment in Regional and Innovative Startups' with nine VCs at Front1 in Mapo on the 3rd.

The signing ceremony was attended by Choi Wonmok, Chairman of KODIT, and representatives and executives from nine VCs including Daekyo Investment, Daesung Venture Investment, Ubiquoss Investment, Inlight Ventures, Coropra Next Korea, Coolidge Corner Investment, Triangle Partners, POSCO Technology Investment, and Hyundai Technology Investment.

This agreement was established to resolve the concentration of venture investment in the metropolitan area and to activate investment in innovative startups located in regional areas that are facing difficulties in fundraising amid complex crises.

According to the agreement, KODIT and the VCs will actively cooperate in ▲ recommending regional and innovative startups ▲ reviewing new investments and credit guarantee support ▲ discovering joint investment companies ▲ supporting joint investor relations (IR) sessions and networking ▲ exchanging information to support invested companies.

At the on-site meeting held alongside the signing ceremony, VC officials emphasized KODIT’s role in the investment market and the necessity of policy-based financial support, while sharing various opinions on revitalizing regional investment.

Park Geunjin, CEO of Daesung Venture Investment, pointed out, "The proportion of investment in regional companies in the overall investment market is less than 20%," adding, "It is very difficult for startups to establish themselves outside the metropolitan area and grow through investment attraction."

Park Moonsu, CEO of Inlight Ventures, added, “To expand infrastructure where regional companies can safely receive investment, proactive venture capital support from policy institutions is essential,” and “Sustained follow-up investments, not one-time support, should be further backed for regional investment companies.”

Chairman Choi said, “This agreement is meaningful in that the private sector and policy institutions are joining forces to activate investment in regional companies that are experiencing greater difficulties due to the global economic slowdown,” and “KODIT will actively expand various policy supports to nurture regional innovative venture companies facing difficulties in fundraising and follow-up investments.”

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