'Busan Future Growth Venture Fund' Launched with a Scale of 100 Billion KRW

Non-Capital Region Venture Fund Reaches All-Time High
Formed as a Mother Fund Structure... Investment Project to Start in Second Half of the Year

The ‘Busan Future Growth Venture Fund’ is launching with a scale of 100 billion KRW.

Busan Haeundae Scenery

The Ministry of SMEs and Startups announced on the 25th that the Busan Future Growth Venture Fund, which focuses on investments outside the metropolitan area, has completed recruiting investors and is beginning full-scale operations.

This venture fund, which primarily invests in non-metropolitan regions, has been established with a record-breaking scale of 101.1 billion KRW. The main investors include the Korea Fund of Funds contributing 25 billion KRW, KDB Industrial Bank with 50 billion KRW, BNK Financial Group with 10 billion KRW, Busan Metropolitan City with 5 billion KRW, and the Korea Institute for Advancement of Technology with 5 billion KRW.

Formed as a fund-of-funds structure, it will invest in venture funds focusing on the Busan region. Starting from the second half of this year, the fund will begin its investment projects and plans to raise a total of 250 billion KRW in venture funds.

At the formation ceremony of the Busan Future Growth Venture Fund held at the 2nd Exhibition Hall of Busan BEXCO on the same day, Oh Ki-woong, Vice Minister of the Ministry of SMEs and Startups, attended. In his congratulatory speech, Vice Minister Oh said, “The launch of the Busan Future Growth Venture Fund will be a great hope and opportunity for local startups and an important turning point for regional venture investment in Korea to take a new leap forward. The Ministry of SMEs and Startups will strengthen support to revitalize the innovation ecosystem by seeking ways to expand region-specific venture funds in cooperation with local banks to provide more investment opportunities to startups located outside the metropolitan area.”