Leading venture capital firms in China have made an aggressive move to invest in Korean startups.
An event of “cel Demoday/IR” was held to establish a bridgehead to the Chinese market for Korean startups at the cel Venture Complex in Seoul on June 17. The cel stands for creative economy leader and cultural enrichment leader. The cel Demoday is a monthly event held at the complex from this year aiming to attract investment for startups. It provides startups with opportunities to make a presentation on investors relations (IR) for a wise decision of investment institutions. This time, the event was held in a large scale by inviting a large number of venture capitals from China as part of reviewing the performance in the first half of the year.
Standing on a stage as a speaker, Jason Xu in charge of investment at DT Capital Partners, one of the largest investment firms in China, showed a great interest in Korean startups. The Chinese firm has already undertaken investment into many startup companies in Korea. In a recent move, it has attracted investment worth about US$3 million for a startup SmartStudy.
In addition, Xu promised a direct investment. After Creative Contents Factory SangSangMaru made a presentation on children’s musical Cat Zorba that is designed to help children learn mathematics through a musical, he showed his wish for his company’s direct investment in the startup.
He also promised his full support for the expansion of Korean startups into China by saying that he would introduce animation companies to Monoplan, a startup which is developing musician characters such as Wimp and Toggles.
In addition to the two startups, other eight teams made a presentation and drew the attention of investors and viewers.
Meanwhile, the participants from the leading investment institutions in China including leading venture capital firms observed the business presentations and took part in business networking with local startups.