BonAngels, Recruiting for 'Chosim Camp 3rd Cohort'... "Up to 5 Billion KRW Funding Per Team Possible"

Investing in Common Stocks with 120 Billion KRW 'PaceMakerFund4'
BonAngels Partners and Founders Actively Support Team Growth

[Asia Economy Reporter Kim Bo-kyung] Bon Angels Venture Partners (Bon Angels), an early-stage venture capital and accelerator, announced on the 18th that it is recruiting participant companies for the 'Choshim Camp 3rd Cohort' to discover and support the growth of startups.

Selected teams will receive seed investments of up to 300 million KRW and 12 weeks of counseling starting with the program. Investments will be made in common stock through the 120 billion KRW private fund 'Pacemaker Fund 4,' established mainly by senior entrepreneurs who are alumni of Bon Angels. Even after the camp ends, teams judged to have growth potential will be given opportunities for follow-up investments ranging from 300 million to 1 billion KRW and TIPS recommendation opportunities.

From the time of follow-up investment execution, additional investments of up to 3 billion KRW may be considered through Bon Angels-linked funds after at least six months. In summary, selected companies can secure up to 5 billion KRW in funding within one year.

The recruitment target is pre-startup teams composed of two or more co-founders or domestic corporate startups with no prior equity investment history.

The fields are divided into two tracks: Service Track and Tech Track. The Service Track covers general areas such as platforms, metaverse, content, fintech, and ESG. The Tech Track recruits teams with technological capabilities in areas such as artificial intelligence (AI), blockchain, SaaS, healthcare, and robotics. Even if a team is not in these fields, those with growth potential can apply for Choshim Camp.

During the camp, partners of Bon Angels, who are former founders, provide regular counseling covering overall management such as business strategy, organizational management, marketing, and development direction to help the team grow practically. Startup founders who are alumni of Bon Angels are invited to provide mentoring based on actual startup experience.

Since starting investments in 2007, Bon Angels has invested in over 230 startups to date. It has discovered and invested early in prominent startups such as Battleground, Baedal Minjok, Play Together, VUNO, Today’s House, Spoon Radio, Channel Talk, and Semifive.

Kim Kwang-soo, partner in charge of Choshim Camp, said, "Based on the partners' startup experiences, we designed the Choshim Camp program so that early startup teams can minimize trial and error and focus on growth as much as possible," adding, "We will provide advice and practical help tailored to the startup teams' situations."

Applications for this camp program can be submitted after checking detailed information on the Bon Angels website.