Suwon City Launches 'Saebit Fund' to Invest in Capital-Limited Companies, Signs Agreements with Eight Management Firms

Suwon City in Gyeonggi Province is launching the "Second Suwon Enterprise Saebit Fund" to drive corporate growth.

On the 20th, Suwon City signed a financial business agreement with eight companies that will manage the second Suwon Enterprise Saebit Fund at the city hall situation room, pledging mutual cooperation.

The management companies for the second Suwon Enterprise Saebit Fund are as follows: SJ Investment Partners Co., Ltd. for the early-stage (general) sector; SV Investment Co., Ltd. for the materials, parts, and equipment sector; BNH Investment LLC for the bio sector; IBK Venture Investment Co., Ltd. and SBI Investment Co., Ltd. for the super-gap sector; and Tap Angel Partners Co., Ltd., Gyeonggi Center for Creative Economy & Innovation Co., Ltd., and Venture Square Co., Ltd. for the early-stage (small) sector.

Suwon City and these management companies will cooperate in various areas, including discovering and linking investments for Suwon-based companies, providing pitching (corporate presentation) training, accelerating (supporting rapid growth of startups), and organizing meetups (events to attract investors). They will also collaborate on corporate consulting, conferences, IR (investor relations), startup auditions, and evaluating outstanding companies.

Lee Jaejun, Mayor of Suwon (second from right in the front row), is taking a commemorative photo with the managers of the 2nd Suwon Enterprise Saebit Fund on the 20th. Provided by Suwon City

Suwon City will invest its committed capital in a venture investment association, and the management companies are required to invest at least the mandatory investment amount in Suwon-based companies. The mandatory investment commitment for Suwon companies is 26.5 billion won.

Lee Jaejun, Mayor of Suwon, said, "With the successful establishment of the first Suwon Enterprise Saebit Fund, many companies in need of investment have benefited," and added, "I expect the Suwon Enterprise Saebit Fund to play a significant role not only in Suwon but also in the development of the South Korean economy." He continued, "Together with all of you, I will help shape the future of Suwon."

The Suwon Enterprise Saebit Fund is designed to invest in small, venture, and startup companies that possess technological capabilities but lack sufficient capital, helping them grow. The first Suwon Enterprise Saebit Fund, launched in November 2023, raised 314.9 billion won, with 31.54 billion won invested in Suwon-based companies (a total of 19 companies).

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