Jeonnam-Gwangju Regional Growth Fund Closes at 131.3 Billion Won
A venture fund-of-funds backed by local governments, banks, universities and POSCO has launched in Jeonnam and Gwangju, with 131.3 billion won raised from 16 investors.
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giftdetect· the right gift in minutesSouth Korea's Ministry of SMEs and Startups has launched the Jeonnam-Gwangju Regional Growth Fund, a venture fund-of-funds that closed its investor round at 131.3 billion won (about 1313억원). The ministry announced the fund at a formation ceremony held on 11 November at the Sunchon National University gymnasium. A fund-of-funds invests in several underlying venture funds, and this one is expected to support venture funds totaling around 200 billion won.
Who is investing
There are 16 investors. The government's fund-of-funds contributed 75 billion won, while the Jeonnam-Gwangju Special City and the cities of Yeosu, Suncheon and Gwangyang also took part. On the banking side, IBK Industrial Bank of Korea, Gwangju Bank, NH Nonghyup Bank and Hana Bank invested. POSCO and the Gwangju Chamber of Commerce and Industry joined from the business community, along with five local universities: GIST, Chonnam National University, Mokpo National University, Chosun University and Suncheon National University. Korea Venture Investment Corp., which will manage the fund, put in 1.4 billion won.
The Jeonnam-Gwangju vehicle is the fifth and last regional growth fund formed this year, after Jeonbuk, Ulsan, Daejeon and Daegu-Gyeongbuk. The ministry says it is the largest among the funds that combine several regions.
What happens next
An operating committee made up of Korea Venture Investment Corp., the Jeonnam-Gwangju Special City and major investors will decide the investment focus. From December, the fund will begin selecting managers for the underlying funds.
Korea Venture Investment Corp. also opened its Southwest Investment Center in the Jeonnam-Gwangju Special City on the same morning, its second regional hub after the Southeast center in Busan. At the ceremony, Gwangju Bank, Jeonbuk Bank, Korea Venture Investment Corp. and the Korea Technology Finance Corporation signed an agreement to supply combined investment, loans and guarantees to ventures in the southwest region.
First Vice Minister Roh Yong-seok said the ministry will expand long-term growth capital and investment-attraction support for regional ventures and startups through the fund and the regional centers. The ceremony coincided with the opening of the 2026 Jeonnam-Gwangju Startup Festival, which runs through 12 November at Sunchon National University with exhibitions, a startup conference, investor pitches and a competition.
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