Korea's first cross-regional integrated mother fund launches in Daegu, North Gyeongsang Province

The Daegu-North Gyeongsang Integrated Regional Growth Fund, described as South Korea's first cross-regional mother fund, began full operations at a launch ceremony in Daegu held by the Ministry of SMEs and Startups. Its formation size is 129.4 billion won. Korea Fund of Funds put in 75 billion won, and the total includes a 1.4 billion won general partner commitment from Korea Venture Investment Corp.

Local governments, banks, universities and companies also contributed. Sub-fund investing is due to start before year-end, with a goal of a 200 billion won venture pool. A steering committee will settle the investment areas.