Jeju Center for Creative Economy and Innovation (CEO Lee Byeong-seon, hereinafter referred to as Jeju Center) announced on the 4th that it signed a Memorandum of Understanding (MOU) with global venture capital firm FAO Partners (CEO Lee Hong-joo) to establish a global fund to promote overseas expansion and investment attraction for domestic startups.
This agreement aims to expand the investment infrastructure for Jeju-based startups to expand into overseas markets and to foster growth through global funds. The two organizations will collaborate on: establishing and structuring a global fund; identifying and executing joint investment opportunities; and attracting investors and expanding their networks.
FAO Partners, a global venture capital firm based in Korea and Singapore, has been actively expanding its international network since acquiring a stake in a Singaporean investment firm in August 2024. In Korea, it operates as Awesome Ventures, Inc., and is registered as an accelerator with the Ministry of SMEs and Startups. It has previously collaborated with the Jeju Center on the "TIPS" program.
Jeju Center CEO Lee Byeong-seon said, “This agreement is an important opportunity to establish a global investment network centered on Jeju’s direct flight routes,” and added, “We will continue to expand our investment network and connect with global funds to help Jeju startups grow competitively in the global market.”
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