Guro-gu Forms 35.5 Billion KRW 'Guro Youth Together Startup Fund'

November 14 Founding General Meeting Held... 300% of Former Capital Invested in Guro-gu-Based SMEs and Venture Companies

Guro-gu (District Mayor Moon Heon-il) is forming the 'Guro Youth Accompaniment Startup Fund' to revitalize investment in outstanding local small and venture companies, and will actively discover and invest in companies.

On the 14th, Guro-gu held the founding general meeting of the 'Guro Youth Accompaniment Startup Fund' at the T-Investment conference room, attended by Korea Fund of Funds, fund management companies, private investors, and Guro-gu.

In July, the district publicly recruited general partners for the establishment of the startup fund and selected T-Investment as the fund manager.

The fund investment amount was raised to 35.5 billion KRW, which is 15.5 billion KRW more than the initial target of 20 billion KRW, including 1 billion KRW contributed by the district.

Among this, 300% of the district's contribution will be invested in small and venture companies within 7 years of establishment that are located in Guro-gu or relocate their headquarters to Guro-gu within one year after investment, enabling focused support for promising local small and venture companies.

The fund operation period is a total of 8 years, and T-Investment will be responsible for managing the fund.

The participating investors in the fund formation include ▲general partner T-Investment ▲limited partners Guro-gu Office, Seoul Metropolitan Government, Gwangju Technopark Foundation, KNJ, Yangwoohoe Association, JB Woori Capital, Shinhan Capital, ESTEC System, ST Industry, Haesung Investment ▲special partner Korea Fund of Funds.

Moon Heon-il, Mayor of Guro-gu, said, "'Guro Youth Accompaniment Startup Fund' is the first investment project promoted by the district this year and one of the pledges of the 8th local government administration," adding, "We will invest in companies with good technology and ideas but struggling due to lack of funds to support their growth."