Chuncheon Adds 4.3 Billion Won Bio Fund, Establishing Foundation for Investment Exceeding 100 Billion Won

[Financial News Chuncheon = Reporter Kim Ki-seop] Chuncheon's startup investment is yielding results. Building on the initial investment provided by Chuncheon as a catalyst, subsequent private investments have followed one after another, and follow-up and co-investments linked to companies invested in by the two funds have exceeded 140 billion won.
According to Chuncheon on the 16th, the general meeting for the formation of the Gangwon Creative Economy Innovation Center-JNPMEDI Partners Inc. Chuncheon Bio Development Investment Partnership, worth 4.3 billion won, was held that day at the Chuncheon ICT Venture Center, with officials from contributing organizations, including the Gangwon Creative Economy Innovation Center and JNPMEDI Partners Inc., in attendance.
This fund was established by combining 2 billion won from the Korea Venture Fund, 500 million won contributed by Chuncheon, and 1.8 billion won in private capital. It secured government funding after being selected in the early-stage startup sector of the Ministry of SMEs and Startups' Venture Fund last April, and is jointly managed by the Gangwon Creative Economy Innovation Center and JNPMEDI Partners Inc. The fund operates for 10 years, from 2026 to 2036, with investments made during the initial four years and exits pursued over the following six years.
Investments are concentrated on early-stage startups in high-tech industries such as biotechnology, healthcare, and artificial intelligence (AI). More than 60% of the fund is allocated to companies established within the past three years or with annual sales of less than 2 billion won. In particular, the fund is designed to invest at least 2 billion won—four times Chuncheon's contribution—in Chuncheon-based companies, thereby leveraging the city's 500 million won in public funds to generate larger local investment.
The city has expanded its investment base by successively establishing the Chuncheon SME Growth Support Fund, worth 20 billion won, in 2020; the Sopung Regional Innovation Fund, worth 14.1 billion won, in 2023; and the Gangwon Strategic Industry Venture Fund, worth 105.6 billion won, last year. With the addition of the Bio Development Fund, the investment foundation has become more comprehensive, covering the entire spectrum from early-stage startups to the growth phase.
The priming effect is evident. The Growth Support Fund invested 17.36 billion won in 23 companies, followed by an inflow of 80 billion won in follow-up and co-investments. The Sopung Regional Innovation Fund also invested 11.6 billion won in 19 companies, leading to 61.5 billion won in follow-up investments. It is a structure in which larger private capital follows once public initial investment verifies a company's potential.
The invested companies are also bearing fruit. SANIGEN and ANGEL ROBOTICS Co., Ltd., which received investment from the Growth Support Fund, successfully went public in 2023 and 2024, respectively. When investment funds are recovered, resources become available to reinvest in new promising companies, solidifying a virtuous cycle of investment, growth, exit, and reinvestment.
The city plans to move beyond being a city good for starting businesses to becoming a city good for receiving investment and growing by linking investment funds, 26 local startup support facilities, and six universities. It is also applying for the Ministry of SMEs and Startups' Regional Hub Startup City designation.
"As the fund grows, fewer startups will collapse because they are blocked by a lack of funding," said Chuncheon Mayor Yuk Dong-han. "We will connect Chuncheon's accumulated biotechnology capabilities with its university and hospital infrastructure to create a synergistic effect for the entire Gangwon region."

[email protected] Kim Ki-seop Reporter