Seoul, the capital city of South Korea made it into Startup Genome's global top 10 in startup ecosystems. Seoul's rise in the worldwide rankings can be attributed to the city's strength in early-stage fundraising, as well as the number of startups continuously growing their influence and impact on the market. The total number of unicorns in the country has risen to 18, the highest number ever produced in a year. The country has succeeded in producing significant growth potential with a technological advantage. South Korea is presently at an inflection point, and it is an exciting time for entrepreneurs looking to join the South Korean startup ecosystem. In this article, we have compiled a comprehensive list of Venture Capital Firms and Angel Investors in South Korea that may be the right funding partner for you.
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Topics Covered:
Why Should You Raise Funds in South Korea
Venture Capitalist Funds in South Korea
Angel Investors in South Korea
Closing Thoughts on VCs and Angel Investors in South Korea
Why Should You Raise Funds in South Korea?
Here are a number of reasons why you should consider raising funds for your startup in South Korea:
Thriving startup ecosystem with increasing VC activity: Korea has a thriving and friendly startup environment, with numerous resources available to entrepreneurs. The Korean government has initiated many measures to help the startup ecosystem thrive, including the formation of startup accelerators and incubators, access to mentoring, training, and networking opportunities, as well as financing and other financial support. Korea's excellent regulatory environment with minimal entry hurdles and a supportive legislative framework make investments in the country appealing, as seen by a 34% rise in VC financing activity to $7.7 billion in 2021 compared to 2020.
Tech-forward population in a highly developed economy: With over 51 million people and a high level of technological penetration, Korea's economy is highly developed, with a strong emphasis on innovation and new technologies. Additionally, Korea was rated top among OECD nations in terms of the proportion of the population who completed university education in 2021. The country's capital, Seoul, houses 54 top institutions, and the Seoul Metropolitan Government hopes to increase 40,000 future talent by 2025 through the Seoul Software Academy (SeSac), a technological training facility. As such, not only does this provide companies with a large consumer base, but also access to young, tech-adaptive talent.
Advanced technology infrastructure: Korea boasts a cutting-edge technological infrastructure, including high-speed internet access and a well-established mobile network. The country's innovation hub, Seoul, was placed fourth in the most active cluster in science and technology in 2021 according to the Global Innovation Index. South Korea's advanced technology infrastructure makes the country an ideal business environment, providing companies with the technological foundation and access they need to build and expand their products and services.
Venture Capitalist Funds in South Korea
The venture capitalist funds below are actively looking for investments in promising companies throughout various stages and sectors. The stages stated do not limit the possibility of getting funding if your company is at any stage other than what is listed.
Year of Inception: 2013
Stage: Seed, Series A
Focus: Robotics, Energy, Healthcare, HCI, IoT, AI, IT, Infrastructure, Beauty, Blockchain, Multimedia, Service, EduTech, Real Estate, FinTech, Food, VR/AR
Notable Portfolio: Corft, Lucid Lab, Plana, TissenBioFarm, Openplan, Modhaus
Future Play invests in a wide range of tech startups that are tackling the world's most pressing issues, breaking down current barriers, and improving human existence from now to 10 years in the future. They transform current markets through startup investment, acceleration programs, and company-building services. Since its inception, they have amassed 211 startups in its portfolio with a 91% survival rate.
Year of Inception: 2007
Stage: Seed, Series A
Focus: Service, Platform, Game, Education, Mobility, AI, PropTech, Wearable, Blockchain, Healthcare, Pet, O2O, FoodTech, Travel, Mental Care, Drone
Notable Portfolio: PUBG, VUNO, Plugo, Tenuto, Lemonbase, Nautilus
BonAngels is Korea's first venture capital and accelerator focused on early-stage financing; assisting aspiring entrepreneurs and startup teams in realizing their ambitions. BonAngels act as a 'pacemaker' for portfolio firms; being the first investor in the firms, they guide founders through their growth path as long-term partners. To date, they have invested in 230 firms, including 4 unicorns, 22 mergers and acquisitions, and 2 IPOs.
Year of Inception: 1986
Stage: Seed, Series A, Series B, Series C
Focus: Biotech & Healthcare, Interactive Content & Media, Consumer Internet & FinTech, ICT & Digitalization, Semiconductor & Industrial
Notable Portfolio: Bellsoft, Osstem Implant, Action Square, Univercells, Halodoc
Korea Investment Partners (KIP) is a leading venture capital and private equity firm with 58 active funds and KRW 4 trillion assets under management. As an affiliate of Korea Investment Holdings, one of Korea's largest financial conglomerates, they have extensive investment experience. From early-stage ventures to growth-stage companies, KIP delivers a unified goal of creating more value by forging strong relationships essential to building business across various industries, as well as providing support on business operations and global expansion.
Year of Inception: 2017
Stage: Seed, Series A, Series B, Series C
Focus: Blockchain
Notable Portfolio: Kyber Network, Klatyn, Matter Labs, Terra, Wavebridge, Polysynth
Founded by a group of blockchain researchers and developers in Seoul and Silicon Valley, Hashed is a venture capital firm that invests in blockchain technology. They believe in the potential of decentralization in revolutionalizing the worldwide economy and the internet. Their portfolio includes firms from all over the world, with the goal of connecting ecosystems in the United States and Asia to establish a large network of resources and catalyze widespread adoption.
Year of Inception: 2017
Stage: Seed, Series A, Series B, Series C
Focus: Consumer, Enterprise, Bio/healthcare, Fintech
Notable Portfolio: Green Cross Therapeutics, Autostadt, Higen Motors
Stonebridge Ventures is a spin-off from StoneBridge Capital, acting as their venture capital arm. With KRW 600 billion in assets under management across multiple funds, they invest in seed to late-stage technology startups. They inject capital into companies in stages to help establish their growth momentum. They define benchmarks for businesses based on their stage of growth and provide incremental finance when they reach each milestone. They also provide support and guidance to assist startups in achieving milestones and gaining competitive advantages.
Year of Inception: 2012
Stage: Seed, Series A, Series B, Series C
Focus: Deep Tech, Service, Digital, Healthcare, Game
Notable Portfolio: Act Nova, NeuroXT, Nautilus, Wonji Labs, Artificial Society
If the startup is the captain, then Kakao Ventures is the co-pilot working beside it; that is how Kakao Ventures operate its investments. Made up of a group of top professionals in their fields, they draw on their diverse experiences and know-how to support your startup so you can focus exclusively on the growth of the company. They provide various essential services and resources for early-stage entrepreneurs, such as assistance in finance, tax, legal, and media exposure. To date, they have amassed a portfolio of 230+ companies throughout 9+ cumulative funds with KRW 100 million of assets under management.
Year of Inception: 2018
Stage: Seed, Series A, Series B, Series C
Focus: Contactless Tech Services and Platforms, IoT, AI, Robotics, Environmental and Climate, Digital Healthcare, Food Tech, Blockchain
Notable Portfolio: Adoba, Dalcom Soft, Medipixel, Cloud Hospital, Fit Pet
With the tagline 'Ascend Together', Ascendo Ventures aim to be a genuine lifecycle partner for growing Asian tech startups; investing from pre-series A to the pre-IPO stage. They are committed as a long-term partner who will accompany startups through their developmental journey and help tackle the challenges that lie ahead. They actively support investees by connecting them with executives, investors, industry experts, and others partners as they engage in global business expansion.
Year of Inception: 2017
Stage: Series A, Series B
Focus: Commerce, Platform, SaaS, Entertainment, Fintech, AI, Social, Healthcare, Deep Tech, Prop Tech, Game, ESG, Blockchain
Notable Portfolio: Rapport Labs, BIGC Studio, Contents Technologies, Postype
If startups are the vocalists, then BASS Investment is the bassists; they are the partner who delivers the greatest rhythm and beat for their vocalists to perform best. Aside from funding, they offer practical assistance to early-stage firms, such as recruitment, technical advice, and follow-up investment. They invest beyond the early stages, but throughout the whole growth process.
Year of Inception: 1992
Stage: Series A, Series B
Focus: Technology, Media, Telecommunications, Healthcare, Consumer & Entertainment, Advanced Manufacturing, Clean Tech, Energy
Notable Portfolio: Anker, Baidu, Bloomsky, Evisu, Dreame, Farfetch
IDG Capital is a premier investment firm with expertise in private equity, venture capital, and mergers & acquisitions. Founded in 1993, they have pioneered the venture capital sector and have continually pursued long-term value investment with local entrepreneurs for many years. They invest in firms at all phases of development within some focus industries, including startup, growth, maturity, pre-IPO, and post-IPO. They also provide a variety of resources to assist portfolio firms in achieving sustainable growth, including support in areas such as branding and marketing, international expansion, human resources, strategic management, and more.
Year of Inception: 2018
Stage: Series A, Series B, Series C
Focus: Consumer, Mobile, Internet
Notable Portfolio: Rael, Grip, Maas Asia, Healthmax, Wedding Book
Standing for 'thoughts become things', TBT Partners help founders to realize their business ideas into new businesses. They are an ADventure capital, always ready for an adventure with their portfolio firms. Beyond investments, they aim to be a partner and team player who can help you find new possibilities and progress further. They utilize their vast industry expertise and experience to assist you in developing services and solutions that will improve the world.
Year of Inception: 1999
Stage: Series A, Series B, Series C
Focus: ICT, Bio
Notable Portfolio: Mathpresso, Kmong, Motion2AI, Cognex, Publy
Established in 1999, Intervest is a premier venture capitalist that invests in and helps entrepreneurs to become the next unicorns. As a startup growth partner, they provide both investments and other value-added initiatives to progress innovative technologies. To date, they have invested in over 300 companies across 16 funds with USD 1.3 billion in assets under management.
Year of Inception: 1997
Stage: Series A, Series B, Series C
Focus: ICT, Industry 4.0, Real Estate, Education, Travel, Sports & Leisure, Energy, Gaming, BioTech
Notable Portfolio: MediPixel, Grab, Jupiter, CryptoQuant, Biotech
Mirae Asset Capital is the venture capital arm of Mirae Asset Global Investments, one of South Korea's top asset management firms. They specialize in tailored finance solutions and provide investments in emerging growth markets. To date, they have established 23 funds with a total of USD 1.7 billion in assets under management.
Year of Inception: 2012
Stage: Series A, Series B, Series C
Focus: Sector Agnostic
Notable Portfolio: Monolith, Craver, Ridibooks, Phantom AI, Neofect, Sillajen
DSC Investment is a venture capital firm that invests in early-stage, forward-thinking entrepreneurs who are driving paradigm shifts. DSC Investment was formed with the meaning of the acronyms Dream, Shelter, and Charity in order to develop an investment firm that achieves these ideals to alter the world. To date, they have operated 24 funds with USD 885 million in assets under management.
Year of Inception: 1999
Stage: Series A, Series B, Series C
Focus: Sector Agnostic, Bio/Healthcare, eCommerce Services, Education, Gaming/ Contents, Manufacturing
Notable Portfolio: Crowdworks, Farm8, Motion2AI, Channel Corp
Founded in 1999, IMM Investment started out as a venture capital firm and has since branched out into growth equity and infrastructure; forming one of Asia's largest multi-asset alternative investment businesses. As a partner to their portfolio firm, they are actively involved in the management levels or boards, overseeing them and helping them expand and manage risk efficiently. They provide value-added services that drive positive improvements in investees' company strategy, customer acquisition, cost optimization, balance sheet restructuring, and exit preparation.
Year of Inception: 1988
Stage: Series B, Series C
Focus: IT, Biotech, Healthcare
Notable Portfolio: Kakao Games, RIDI, Celltrion, FastFive, Tren:be, Howser
Atinuum Investment invests in local and international startups that have reached the growth stage. They are seeking startups fueled by market and technological innovation who are making revolutionary changes in the information technology and bio/healthcare fields. To date, they have accumulated 26 funds and 425 portfolio firms.
Year of Inception: 2011
Stage: Seed
Focus: Artificial Intelligence, eCommerce & Marketplace, Entertainment, Finance, Food Insurance, Logistics, Media, Property, Sports, Islamic Digital Economy
Notable Portfolio: Carousell, 99.co, XINCH, Cerebra, Kamereo, Ethis
Operating across Asia with extensive and deep networks, Quest Ventures has been focusing on an overall 'digital economy' strategy in the market. Aside from investments, they also follow an enterprise innovation strategy in association with Silicon Valley's preeminent Applied Innovation Institute, fostering industry and corporate changes through world-class research and engagement with startups. By the end of 2022, Quest Ventures would have over 100 venture-backed firms operating in over 150 cities throughout Asia.
Year of Inception: 2000
Stage: Series A, Series B, Series C
Focus: ICT, AI, IoT, Smart Robotics
Notable Portfolio: Fishbrain, Alodokter, Aria Pharmaceuticals, Miragesoft, Upstage
Softbank Ventures Asia is the venture capital arm of SoftBank Group, a Japanese multinational conglomerate with bases in Korea, Singapore, China, the U.S., and Israel. They work with the objective to contribute to people's well-being and joy and making the world a better place through digital revolutions. As such, they assist early-stage entrepreneurs who are on a mission to build the future and assist portfolios in expanding their company overseas by leveraging on the 1,300-strong SoftBank global network and encouraging collaboration and partnership across the SoftBank Group's diverse companies. They also provide a range of assistance to assist investee companies through the SoftBank community workshops and networking events.
Angel Investors in South Korea
The Angel investors listed below are part of an Angel community located throughout South Korea. They may act as an individual or as a syndicate to fund projects of their preference, so these networks are the best opportunity for you to find a potential Angel with an aligned vision and interests.
Stage: Seed, Series A
Focus: Sector Agnostic
Notable Portfolio: -
The Korea Business Angels Association, otherwise known as KBAN, is a non-profit organization dedicated to fostering the South Korean angel investing ecosystem. Founded in 2012, the network serves as a link to connect angel investors with South Korean entrepreneurs. They assist startups through their network of investors which provide finance, mentorship, and other valuable and relevant information from industry professionals.
Closing Thoughts on VCs and Angel Investors in South Korea
South Korea's emphasis on technology and innovation has resulted in the formation of numerous unique startups, and interest in the field is expanding both locally and globally. The country's excellent technological infrastructure, tech-adaptive population, and flourishing startup ecosystem create a solid foundation for the development and success of startups. With increased government involvement and investment in the country's startup ecosystem, South Korea will continuously attract both local and global investors, offering new opportunities for entrepreneurs and contributing to the development of a more vibrant and dynamic entrepreneurial culture. South Korea's startup ecosystem is undoubtedly positioned for even greater growth and success in the future.
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