Gangwon Province Launches 44.3 Billion Won Venture Fund... A Signal for Future Industry Investment

Establishing a Cooperation System Between Gangwon Province, Seven Cities and Counties, and Sub-Fund Management Companies
Investment to Begin in March... Creation of a 150 Billion Won Venture Fund
Full-Scale Investment in Strategic Industry Venture Fund to Support Promising Local Companies

Gangwon Special Self-Governing Province (Governor Kim Jin-tae) held an investment agreement ceremony on January 8 at the provincial office with representatives from the seven cities and counties participating in the Gangwon Strategic Industry Venture Fund, as well as sub-fund management company representatives, to promote the activation of the Gangwon Strategic Industry Venture Fund.

Gangwon Special Self-Governing Province (Governor Kim Jin-tae) held an investment agreement ceremony on the 8th at the provincial office with representatives from seven cities and counties participating in the Gangwon Strategic Industry Venture Fund and sub-fund management companies to promote the activation of the Gangwon Strategic Industry Venture Fund. Provided by Gangwon Province

This agreement ceremony was organized to formalize the cooperation system between the province, the seven cities and counties, and the management companies, and to share future investment directions. Through the agreement, they plan to expand regional investment centered on Gangwon's seven major future industries, such as semiconductors and biotechnology, jointly discover and foster promising local companies, transparently manage the operation and investment results of the venture fund, and further strengthen the contribution of fund management companies to the creation of regional policies and the investment ecosystem for future industries.

The sub-fund management companies selected last month have established a fund totaling 44.3 billion won and plan to begin actively discovering and investing in promising small, venture, and startup companies in the province as early as March.

This public offering began with an announcement on October 15 last year and accepted applications until November 5, with a total of 12 management companies applying. After document screening, on-site due diligence, and presentation evaluations, the province comprehensively assessed management capabilities and investment strategies to select the final four management companies.

By field, one company, Gangwon Center for Creative Economy & Innovation, was selected for the "First Step" category in the regional league, while three companies-Waf Investment-JKP Partners Consortium, Pathfinder H, and Gangwon National University Technology Holdings-Trigger Investment Partners Consortium-were selected for the venture capital category in the regional league.

The Gangwon Center for Creative Economy & Innovation is expected to contribute to revitalizing the local startup ecosystem, as it is an institution with strengths in discovering and nurturing early-stage and startup companies. The Waf Investment-JKP Partners Consortium is evaluated to support the growth of promising companies in the province, leveraging its extensive venture investment experience and network.

Gangwon Special Self-Governing Province (Governor Kim Jin-tae) held an investment agreement ceremony on the 8th at the provincial office with representatives of seven cities and counties participating in the Gangwon Strategic Industry Venture Fund and sub-fund management companies to promote the activation of the Gangwon Strategic Industry Venture Fund. Provided by Gangwon Province

Additionally, Pathfinder H is expected to contribute to revitalizing the regional industry by discovering and fostering early-stage and growth-stage companies across Gangwon's seven major future industries. The Gangwon National University Technology Holdings-Trigger Investment Partners Consortium is anticipated to create synergistic effects by utilizing its collaborative network with local universities and startup-related organizations.

Governor Kim Jin-tae of Gangwon Special Self-Governing Province stated, "The creation of a 150 billion won venture fund is now in full swing," adding, "Since sub-fund management companies will be newly selected each year, a stable start at the initial stage is more important than anything else."