UTC Investment to Establish 23.8 Billion Won "Startup Korea Fund"
Investment Commitment Secured for "Startup Korea Fund"
Fund Formation Targeted for Completion by End of December
Accelerating Entry of Bio and Healthcare Companies into Japanese Market
UTC Investment has secured a commitment for investment in the open innovation sector of the "2025 Startup Korea Fund," which is being promoted by the Ministry of SMEs and Startups and Korea Venture Investment Corp. The company is now moving forward to establish a fund totaling 23.8 billion won, with plans to complete the fund formation by the end of December.
According to industry sources on September 3, this fund will include participation from private investors such as CMIC, the largest clinical research organization (CRO) in Japan, Daesang Group, and Seoul Clinical Laboratories. After signing a memorandum of understanding (MOU) with CMIC in 2023, UTC Investment has worked to strengthen the foundation for Korea-Japan cooperation in the bio and healthcare sectors through joint events and seminars.
CMIC's local network and infrastructure in Japan are expected to serve as a crucial bridge for Korean bio companies seeking to expand into the Japanese market. Daesang Group and Seoul Clinical Laboratories plan to pursue technological collaboration and commercialization, focusing on green bio and AI/diagnostics fields, respectively.
The fund will target early-stage and growth-stage startups in technology-based industries such as bio and healthcare, beauty, semiconductors, and artificial intelligence (AI). UTC Investment intends to continue making strategic investments by selecting companies with technological strength and scalability, leveraging its team of industry specialists.
Han Seung, CEO of UTC Investment, stated, "Based on our accumulated investment experience in the bio and healthcare sectors and our global cooperation network, we will provide practical support to domestic startups preparing to expand overseas, including into the Japanese market."
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UTC Investment has focused its investments on the bio and healthcare sectors since 2019. In 2021, the company managed the "Smart Korea UTC Bio Healthcare Fund," which was worth 135 billion won, and operated customized growth support programs based on its team of specialists. Recently, UTC Investment's largest shareholder changed to Forest Partners. Forest Partners' overseas cooperation network and experience in supporting corporate growth are expected to be reflected in the fund's management strategy.
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