The Asan Nanum Foundation, based in South Korea, announced on the 20th that it has revamped the management strategy for the ‘Chung Ju-yung Angel Investment Fund,’ a catalytic capital initiative established to invigorate the country’s startup and investment ecosystem.

Launched in 2012 with an initial capital of KRW 100 billion (approximately USD 75 million), the Chung Ju-yung Angel Investment Fund has since collaborated with angel investors, accelerators, and venture capitalists to support early-stage startups. To date, the fund has invested in 53 funds and accelerators, amassing a total fund value of approximately KRW 2.09 trillion (around USD 1.57 billion). Shinhan Asset Management has been appointed as the trustee responsible for overseeing the fund’s investment activities.

The shift in the fund’s strategy comes three years after the Asan Nanum Foundation introduced a new direction on its 10th anniversary in 2021. The foundation has realigned its investment approach to reflect changes in market conditions and the broader environment, with a particular focus on the ‘Globalization of the Startup and Investment Ecosystem’ and ‘Response to the Climate Crisis.’

A key component of this new strategy is the introduction of the ‘Globalization of the Investment Ecosystem’ initiative, which aims to enhance global investor engagement with Korean startups pursuing international expansion. The fund will continue to support the creation of funds that help Korean general partners (GPs) expand overseas while also encouraging international GPs to participate in Korea’s investment ecosystem. By attracting global investors and limited partners (LPs) to invest in Korea, the foundation seeks to broaden opportunities for startups to secure funding and expand their market reach.

Aligned with the foundation’s mission of promoting “Entrepreneurship that prioritizes people and the environment,” the updated strategy also encourages the establishment of funds focused on addressing the climate crisis. This includes expanding investments to support the discovery and growth of climate tech startups. Additionally, the fund aims to reduce investment disparities across different sectors and regions by promoting the creation of funds in underserved areas.

Moreover, through the Chung Ju-yung Angel Investment Fund, the Asan Nanum Foundation plans to encourage the participation of new LPs, VCs, and key operators, including founders and women, within the investment ecosystem. The foundation also intends to diversify investment entities, forms, and strategies by participating in funds exploring new investment structures and capital models.

Yoon-Mi Eom, Chairman of the Asan Nanum Foundation, stated, “We developed this new strategy with the hope that the Chung Ju-yung Angel Investment Fund will provide meaningful support to various startups and enrich the investment ecosystem. We anticipate that, in line with this new funding direction, the global expansion of Korean startups and the growth of the climate tech sector will accelerate, along with an increase in their opportunities to attract investment.”