Series Ventures and Seoul National University Technology Holdings were finally selected as the regional league VC management companies for the 'Busan Future Growth Venture Fund 2024' in the form of a joint management (Co-GP). The two organizations held the inaugural general meeting of the 'Busan Regional Innovation TVS Investment Association No. 1' at the Busan KDB Industrial Bank on the afternoon of the 28th, and plan to fully engage in fostering Busan regional startups and venture companies through the fund.
This selection is part of the 'Busan Future Growth Venture Fund 2024' investment project promoted by Busan Metropolitan City and Korea Venture Investment (KVIC) to promote regional venture investment. In particular, this fund is significant in that it was created using the 'Busan Future Growth Venture Fund', a mother fund formed by the Ministry of SMEs and Startups, Busan Metropolitan City, KDB Industrial Bank, and BNK Financial Group.
Series Ventures is a representative accelerator (AC) based in Busan, and has strengths in discovering and investing in early-stage startups. On the other hand, Seoul National University Technology Holdings is a technology holding company that leads the commercialization of university research results, and specializes in supporting the growth of technology-based startups. This collaboration is expected to establish an investment structure that will allow innovative technology companies and university technology-based startups in the Busan area to grow simultaneously.
A Series Ventures official said, “This fund will go beyond simple investment support and play an important role in elevating the Busan region’s startup ecosystem to a global level,” adding, “We will actively support the discovery of promising companies and continue to provide follow-up investment.”
Seoul National University Technology Holdings also said, “We will not spare support for technology startups and commercialization of research results so that the technology owned by the university can lead to actual industrial value,” adding, “Through this fund, we plan to contribute to the growth of Busan as a technology-based startup hub.”
Series Ventures and Seoul National University Technology Holdings will focus on advancing the local venture ecosystem to the next level through a strategy of simultaneously supporting technology startups and early-stage startup growth.
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