Launch of 100 Billion Won 'Busan Innovation Scaling Up Venture Fund'

Mother Fund Formed with 101.1 Billion Won, Including 60 Billion Won from Korea Fund of Funds
Sub-Fund Investments to Create a 200 Billion Won Venture Fund
"Supporting Investment Opportunities for Startups Outside the Seoul Metropolitan Area"

On August 28, the Ministry of SMEs and Startups announced that it held the inauguration ceremony for the 'Busan Innovation Scaling Up Venture Fund' and that the regional mother fund, which focuses on investments in Busan, has completed recruiting investors and will begin full-scale operations.

The 2025 regional mother funds, which are being promoted to revitalize regional venture investment, will be created with a total scale of 400 billion won in Gangwon, North Gyeongsang, Busan, and South Chungcheong. The Busan Innovation Scaling Up Venture Fund is the second regional mother fund to be established, following the recent 'South Chungcheong Corporate Growth Venture Fund.' Mother funds for Gangwon and North Gyeongsang are also scheduled to be established soon.

The Busan Innovation Scaling Up Venture Fund has been formed as a large-scale mother fund with a total of 101.1 billion won, with the Korea Fund of Funds supplying 60 billion won as seed capital and the City of Busan, Busan Bank, and Industrial Bank of Korea participating as investors. The fund will finalize its investment areas through an operations committee next month and plans to begin sub-fund investment projects in October, aiming to create a 200 billion won venture fund focused on investments in Busan.

No Yongseok, Vice Minister of the Ministry of SMEs and Startups, said, "Through the Busan Innovation Scaling Up Venture Fund, the Ministry will strengthen its support to ensure that robust investment opportunities for ventures and startups are provided not only in the Seoul metropolitan area but also in regional areas."

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