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2021 Seoul Business Agency Foreign VC Investment Fund (RFP for 2021 SB…

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Name Invest Seoul Date21-08-12 10:53

2021 Seoul Business Agency Foreign VC Investment Fund
(RFP for 2021 SBA Global Startup Fund)

In order to foster small and venture business in Seoul and support them entering the global market,
the Seoul Industry Promotion Fund will carry out a global startup fund investment project in 2021.
Through the evaluation review, the ratio of investment, investment amount, and investment conditions will be determined for each union.
If it does not meet the SBA investment purpose or it is difficult to achieve the investment purpose, it may not be selected through the investment examination.
Please check the main conditions of the investment target and investment conditions below, you can also download the Korean-English announcement and application form from the SBA website.

This notice closes at 18:00 on Friday, August 13, 2021.

▣ Commitment Terms

Terms Global Startup Fund
SBA Commitment USD 1 million (approximately KRW 1.1 billion)
Basic Commitment Minimum proposal percentage is 200%
(Provided, that the amount is agreed upon with other LPs)
Number of Selected Management Companies 1
Duration of Applying Fund Long term management (about 10 years)
Investment Period: Negotiable between the Initial Drawdown Date or 5 years from the Final Closing Date
※ In case of failure to form the fund due to changes in SBA fund commitment policy in 2021 or due to the selected management company’s failure to raise the formation amount, the fund may be substituted by another fund.

▣ Commitment Target

  • ○ Foreign VC firm or 2) Foreign VC firm partnering with Korean VC Firm (Co-GP)
  • ○ Korean VC firm alone is not eligible

▣ RFP Submission Method & Inquiries

  • ○ The Proposal form is available for download on the SBA website
  • ○ The Proposal form must be filled out and submitted via e-mail : (
  • ○ Point of Contact : SBA Invest Seoul Center, Foreign Investment Marketing Team Assistant Manager, Youngbin Kim (+82-2-6361-4145,
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