A newly launched $7.3M venture fund backed by Korean and Japanese investors has made its debut investment in AI startup Seropim, signaling a fresh pipeline of cross-border funding for Jeju Island's tech entrepreneurs. The fund aims to bridge early-to-mid-stage capital gaps and connect local startups to international markets.
TL;DR
- Jeju Island's $7.3M Korea-Japan fund invests in AI startup Seropim, specializing in 3D content creation tools.
- The fund, managed by Jeju Center for Creative Economy and Innovation and Sevenstar Partners, aims to boost regional startups and facilitate cross-border growth.
- Since 2018, Jeju's seed investment model has catalyzed significant private follow-on support, proving that a thriving venture ecosystem can thrive outside mainland megacities.
What happened
A newly established 10.1 billion won ($7.3 million) venture fund, backed by Korean capital, local enterprises, and Japan-based ethnic Korean investors, has made its first investment in Seropim, an AI startup specializing in 3D content creation tools for the global media and gaming markets. The fund, managed by the Jeju Center for Creative Economy and Innovation and Sevenstar Partners, selected Seropim after a rigorous screening process involving over 15 investor pitch sessions and detailed financial audits.
In addition to the fund, provincial authorities are also focusing on early-stage seed funding to help startups navigate the 'Valley of Death'—the fragile growth phase between initial setup and commercial viability. As part of this year's seed initiative, three additional local startups received direct capital injections: Momkkot Inc., a developer of AI-integrated smart greenhouse equipment; Itnew Inc., an AI-powered logistics platform; and Cross Combine Inc., a business platform designed to help local lifestyle brands expand internationally.
Why it matters
This investment marks a critical milestone for Jeju Island's regional ecosystem, as it connects early seed funding to follow-on private investment, laying the bedrock for local startups to leap onto the global stage. The strategic bridge aims to solve a chronic hurdle for regional entrepreneurs: securing early-to-mid-stage capital while building bridges to international markets, particularly Japan and Southeast Asia.
Since Jeju initiated its seed investment model in 2018, it has funneled 2.76 billion won into 43 startups. This initial boost has catalyzed massive private follow-on support, with nine recipient companies successfully entering Korea's prestigious TIPS tech incubator program and 22 others unlocking an additional 14.16 billion won from venture funds. By pairing local seed support with international capital, Jeju officials are proving that a thriving venture ecosystem doesn't need to be anchored in a mainland megacity to capture global ambition.
Key facts
- The newly launched venture fund is valued at 10.1 billion won ($7.3 million).
- The fund's first investment is in Seropim, an AI startup specializing in 3D content creation tools.
- The fund is managed by the Jeju Center for Creative Economy and Innovation and Sevenstar Partners.
- Since 2018, Jeju's seed investment model has funneled 2.76 billion won into 43 startups.
- Nine recipient companies have entered Korea's prestigious TIPS tech incubator program, securing 5.16 billion won.
- 22 other startups have unlocked an additional 14.16 billion won from venture funds.
- Three additional local startups received direct capital injections this year: Momkkot Inc., Itnew Inc., and Cross Combine Inc.
- The fund aims to bridge early-to-mid-stage capital gaps and connect local startups to international markets.
Context
Jeju Island, long celebrated for its volcanic peaks and coastal tourism, is engineering a new identity as a cross-border tech incubator. The island's strategic initiatives aim to create a thriving venture ecosystem that can compete on the global stage, proving that innovation and growth can thrive outside of mainland megacities.
The investment in Seropim and the focus on early-stage seed funding highlight the growing importance of cross-border collaboration and the role of international capital in fostering regional tech ecosystems. This initiative not only benefits local startups but also strengthens ties between Korea and Japan, fostering a more interconnected and dynamic tech landscape.