Gangwon Launches Largest-Ever 150 Billion Won Venture Fund
Over 250 Venture Capitalists and Startup Representatives Attend
Twelve Sub-Funds Worth 150 Billion Won to Be Created by 2027
Focused Investment in Seven Key Future Industries Including Semiconductors, Bio, Hydrogen, and Electric Vehicles
Gangwon Special Self-Governing Province (Governor Kim Jin-tae) announced on September 23 that it held the launch ceremony for the "Gangwon Strategic Industry Venture Fund" under the theme "Gangwon Opening the Future, From Startups to Global" at Chuncheon Sky Convention and will begin full-scale operations.
Kim Jintae, Governor of Gangwon Special Self-Governing Province, is taking a commemorative photo with attendees after holding the launch ceremony of the "Gangwon Strategic Industry Venture Fund" under the theme "Opening the Future of Gangwon, from Startups to Global" at Chuncheon Sky Convention on the 23rd. Provided by Gangwon Special Self-Governing Province
The launch ceremony was attended by key figures including Governor Kim Jin-tae, Lim Jungwook, Director General for Startup Venture Innovation at the Ministry of SMEs and Startups, Choi Dongha, Senior Executive Vice President of NH Nonghyup Bank, Lee Daehee, CEO of Korea Venture Investment, as well as leaders of local economic organizations, executives and employees from about 60 domestic venture capital firms (VCs) and startup accelerators (ACs), and startup representatives, totaling around 250 participants who celebrated the launch of the fund.
The Gangwon Strategic Industry Venture Fund was selected for the "Local Era Venture Fund" project supervised by the Ministry of SMEs and Startups in February and secured 60 billion won in investment from the Korea Fund of Funds. Gangwon Special Self-Governing Province, Chuncheon City, Wonju City, Gangneung City, Taebaek City, Samcheok City, Hongcheon County, Hoengseong County, NH Nonghyup Bank, and Korea Venture Investment jointly contributed to form a parent fund totaling 105.6 billion won.
Based on this, Gangwon Special Self-Governing Province plans to establish 12 sub-funds totaling 150 billion won over three years from 2025 to 2027 through Korea Venture Investment.
The investment sectors are technology-innovative small and medium-sized enterprises, venture companies, and startups in seven future industries: semiconductors, bio and health, future energy (hydrogen), future mobility (electric vehicles), food tech, defense industry, and climate tech.
In addition, in connection with the launch ceremony, the province held an investment briefing session for fund management companies based in the Seoul metropolitan area to expand investment opportunities for local companies.
Jin-Tae Kim, Governor of Gangwon Special Self-Governing Province, is delivering a greeting at the launch ceremony of the "Gangwon Strategic Industry Venture Fund" held on the 23rd at Chuncheon Sky Convention under the theme "Gangwon Opening the Future, from Startups to Global." Provided by Gangwon Special Self-Governing Province
The event was co-hosted by Gangwon Technopark, Gangwon Center for Creative Economy and Innovation, Gangwon National University, Catholic Kwandong University, and Gangneung Science and Industry Promotion Agency, with a total of 50 companies (29 new and 21 follow-up) participating, leading to active investment consultations and networking.
In his commemorative speech, Governor Kim Jin-tae emphasized, "What companies lack the most is investment capital," and added, "Through this fund, we can provide the lifeblood that companies are most thirsty for."
He continued, "When we invest in sound companies, the companies grow and investors receive greater dividends," and added, "I hope that beyond a win-win, this will open the way for local governments, the central government, and companies to prosper together."
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