'Industry's First AC' FuturePlay Acquires Additional Venture Capital License

Planning to Implement AC·VC Dual License Strategy

FuturePlay, the industry's first accelerator (AC), has obtained a venture capital (VC) license after 10 years of activity.

On the 27th, FuturePlay stated, "There have been cases where VCs additionally acquired AC qualifications or established AC subsidiaries, but this is the first time an AC has obtained a VC license after operating for a long period. We have secured the qualification of a startup planning company concurrently operating as a venture investment company."

The acquisition of this VC license was greatly influenced by the amendment to the 'Act on the Promotion of Venture Investment,' which will take effect on the 21st of next month. Previously, startup planners concurrently operating venture investment companies had to comply with investment obligations from both sides, and all behavioral restrictions applied to each. The recent amendment rationally adjusted regulations on startup planners concurrently operating venture investment companies and eased investment obligations for early-stage startups.

FuturePlay obtained this VC license to strengthen its core role as an AC in investing in early startups and to continuously contribute according to the growth stages of portfolio companies. Through this, it plans to implement a 'dual license' strategy that participates in investment rounds throughout the entire growth process from the startup phase.

It will expand touchpoints to meet more prospective and early-stage entrepreneurs and actively participate in follow-up investments as a VC. Additionally, through open innovation programs aimed at securing growth engines for large and medium-sized enterprises, it plans to provide various opportunities for startups to secure investors, customers, and business growth.

Ryu Jung-hee, CEO of FuturePlay, said, "Leading investment firms in Silicon Valley such as Andreessen Horowitz and Y Combinator are cases where founders with startup experience engaged in angel investing or accelerating and then invested through Series A (early-stage investment) and beyond, growing alongside the startups. I believed that in Korea, too, an investment firm should emerge that starts with ultra-early-stage investment and supports the growth of invested startups by possessing both AC and VC capabilities. Going forward, we will perform the role of a leading AC with a dual license, systematically supporting startups from their inception to IPO."

Founded in 2013, FuturePlay successfully raised ▶FuturePlay Pioneer Fund No.1 (KRW 12.4 billion) and ▶Unicorn Fund No.2 (KRW 15.7 billion) this year, and plans to complete additional new fund formations within the year. Currently, it manages a total of 10 funds, with total assets under management (AUM), including committed capital, amounting to KRW 173.5 billion.