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Startups and Mid-Sized Businesses to Receive Additional 300 Billion Won Investment
VC Investment
Startups and Mid-Sized Businesses to Receive Additional 300 Billion Won Investment
  • By matthew
  • September 3, 2013, 06:44
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With the establishment of Venture Capital (VC), chosen as the first business operator of the Korea Venture Investment’s Fund of Funds, an additional 300 billion won in investment will go out to starting and mid-sized businesses in the global content, independent movie production, and other industries. 

According to the Korea Venture Investment and the Venture Capital industry on September 1, 9 out of the 14 selected Fund of Fund business operators have completed their co-op establishment. 3 from the rest of the VC will hold a meeting on September 2, which is the deadline to establish the first fund, and complete the co-op establishment. 

Then the first co-op establishment for the Fund of Funds investment, excluding a total of 306 billion won (US$279 million) in patent accounts, will be complete. IMM Investment, chosen as the operator of patent accounts, will finish up its co-op establishment before the Korean Thanksgiving holidays. As the patent accounts operator, it receives 2 additional months in the deadline for its co-op establishment. 

The investment portfolios of these co-ops are more diverse than ever. About 170 billion won (US$155 million) will be invested in starting and mid-sized businesses, along with 136 billion won (US$124 million) flowing into the cultural and movie industries.