Gyeonggi Province and DSC Launch First "Superman Fund" of 20 Billion Won

Gyeonggi Province, DSC Investment, and Gyeonggi Small and Medium Business Comprehensive Support Center have completed the establishment of a partnership fund to manage a 20 billion won fund for nurturing promising startups in the province and are now beginning in earnest to discover potential investment targets.

Kim Hee-gyeom, Vice Governor of Gyeonggi Province Administration, signed the "Superman Fund 1st Establishment Operating Agreement" on the morning of the 29th at the 1st Conference Room of the Northern Office with Yun Gun-su, CEO of DSC Investment, and Yun Jong-il, CEO of Gyeonggi Small and Medium Business Comprehensive Support Center, and agreed to cooperate in investing in promising companies in the province that possess excellent technological capabilities and growth potential.

The Superman Fund is an investment partnership formed to expand investment opportunities for promising startups. The province recruited general partners starting in April this year and completed the fund establishment by making capital contributions on July 24.

The fund comprises a total of 20 billion won, with 5 billion won from Gyeonggi Province, 2 billion won from DSC Investment as the business execution partner, and 13 billion won from general partners including NH Nonghyup Bank, Shinhan Bank, and investment advisory firms. The fund's operating period totals 8 years, including a 5-year investment period.

Under the agreement, the Superman Fund will invest 60% or more of the raised capital in small and medium enterprises within the province. In particular, more than 50% of that will be directed toward startups in the province. Investment methods will be conducted through stocks, convertible bonds (CB), and bonds with warrants (BW).