Gyeongnam Venture Investment

What Gyeongnam Venture Investment does

Gyeongnam Venture Investment ((주)경남벤처투자, GNVI) is a South Korean venture capital firm established in September 2019 as Korea's first public-private-financial joint venture capital company, headquartered in Changwon, Gyeongsangnam-do with a wholly-owned accelerator subsidiary CoUP Partners ((주)코업파트너스). The firm operates a multi-fund portfolio of 8 venture capital funds (VC1-VC8) with total assets under management of 1,133억 KRW, deploying approximately 720억 KRW across 96 investments in 67 portfolio companies spanning AI semiconductor (Rebellions), deep tech/4th industrial revolution, biotech/healthcare, ICT/smart city, water industry, content, smart agriculture, and advanced manufacturing sectors. Approximately 58.8% of invested capital is concentrated in Gyeongnam-based companies, addressing the historically underserved regional venture capital market where 90%+ of Korea's 130+ VC firms were concentrated in Seoul.

The firm's revenue model follows standard Korean VC industry practices: annual management fees of approximately 2-2.5% on committed capital (subscription/recurring revenue) plus carried interest of typically 20% above a 7% IRR hurdle rate (transaction-based success fees). Distribution relies on regional deal sourcing through government partnerships, university collaborations (5 Gyeongnam universities), research institute alliances (Gyeongnam TechnoPark, Korea Electrical Research Institute), and accelerator programs (MATE via CoUP Partners, Scale-up TIPS operator designation from Ministry of SMEs and Startups), with co-investment relationships extending to 70%+ of Seoul metropolitan VCs. Notable exits include Robos (7.42x return, 162% IRR via partial stake sale) and Newlens (1.52x return, 70.3% ROI), with multiple portfolio companies preparing for 2026 IPO listings. Major shareholders include Gyeongnam Provincial Government, BNK Gyeongnam Bank, NongHyup Bank, the Changwon Chamber of Commerce, and individual investor Jung Yeong-hwa (Chairman of the Gyeongnam Venture Business Association).

Name

Gyeongnam Venture Investment

Legal name

(주)경남벤처투자

Website

https://gnvi.co.kr

Company type

Private

Founded year

2019

Operating status

Operating

Short description

Gyeongnam Venture Investment is a South Korean regional venture capital firm managing 8 funds with 1,133억 KRW AUM, investing from seed to pre-IPO in Gyeongnam-based startups across AI semiconductor, biotech, smart city, agritech, and manufacturing sectors through direct investment and its accelerator subsidiary CoUP Partners.

Ownership category

akta.pro rank

Product category

Venture Capital

NAICS

Portfolio Management and Investment Advice (52394)

SIC

Investment Advice (6282)

akta.pro primary industry

Geography-Focused Venture Capital (Regional/Emerging Markets) (FSANAAAE)

akta.pro secondary industries

Sector-Focused Venture Capital (Vertical Specialists) (FSANAAAD), Accelerators & Incubators (Investor-Operated) (FSANAAAM), Early-Stage Venture Capital (Series A/B) (FSANAAAB)

Keywords

• Venture capital investment
• Startup funding
• Regional innovation funds
• Accelerator programs
• Portfolio management

Headquarters

HQ city

Changwon

HQ country

South Korea

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Management Fees: Annual management fees charged on committed capital under management (AUM) for fund operations
2. Carried Interest (Performance Fees): Success-based carried interest earned when portfolio companies achieve successful exits (IPO, M&A). Internal Rate of Return (IRR) benchmark of 7% for performance compensation

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Core offering

Gyeongnam Venture Investment operates as a venture capital firm managing 8 specialized investment funds (VC1–VC8) with combined AUM of 1,133 billion KRW, providing growth capital to startups from Pre-Series A through Pre-IPO stages. The firm focuses on sectors including water industry, 4th industrial revolution technologies, ICT/smart city, biotech and healthcare, content, and smart farming. Through its wholly-owned subsidiary Co-up Partners, it also runs the MATE accelerator program offering startup sourcing, mentoring, acceleration, training, and post-investment management.

Product overview

Gyeongnam Venture Investment ((주)경남벤처투자) is South Korea's first and only public-private-financial joint venture capital company, established in September 2019 in Changwon, Gyeongsangnam-do. The company operates a multi-fund portfolio consisting of 8 venture capital funds (VC1-VC8) with total assets under management of 1,133 billion KRW, managing investments from seed through pre-IPO stages across sectors including ICT, BIO & Healthcare, manufacturing, and smart agriculture. Through its wholly-owned subsidiary CoUP Partners (코업파트너스), the company operates the MATE Accelerator Program providing startup screening, acceleration, IR training, and post-investment support. The firm also collaborates on regional programs including BNK Gyeongnam Bank's CHAIN-G startup support platform and the government's Scale-up TIPS program for technology commercialization and R&D investment linkage.

Differentiator

Problem solved

Functional benefit

Products and services

• VC1 - Gyeongnam Reverse Innovation Investment Fund (경남 리버스이노베이션투자조합) Regional venture capital fund focused on regulatory-free zone participating companies, early-stage startups, and non-metropolitan SMEs in South Gyeongsang province. Investors include Korea Venture Investment (120 billion KRW), Gyeongnam Province, Nonghyup Bank, and Gyeongnam Bank.
• VC2 - Smart New Deal Innovation Industry Investment Fund (스마트뉴딜 혁신산업 투자조합) Fund investing in innovative small and mid enterprises and early-stage startups in 10 key innovation sectors designated by the Ministry of Land, Infrastructure and Transport, including land transportation innovation.
• VC3 - Gyeongnam Unicorn Investment Fund 1 (경남 유니콘 투자조합 1호) Project fund targeting unicorn-level promising companies in the Gyeongnam region, designed to scale companies toward billion-dollar valuations.
• VC4 - Next-generation Regional New Deal & Bio Investment Fund (차세대 지역뉴딜 & 바이오 투자조합) Fund investing in SMEs in water resource utilization, smart city, and 4th industrial revolution sectors, with cooperation from Korea Water Resources Corporation (K-water).
• VC5 - Startup Angel Bridge Investment Fund (스타트업 엔젤 브릿지 투자조합) Fund providing bridge financing for early-stage startups located in the greater southeastern region (Busan-Ulsan-Gyeongnam), with anchor capital from Korea Venture Investment Mother Fund.
• VC6 - Southeast Region Innovation Investment Fund (동남권 지역혁신 투자조합)

Quantifiable outcome

• 5-Year Performance: 8 funds, 1,133억 won AUM, 96 investments, 720억 won deployed, 67 portfolio companies
• +4 more outcomes

Named customers8 records

Segments5 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Six partnerships are on record, tiered core.

• Co-up Partners (주)코업파트너스coreOthers · 17 May 2021100% owned subsidiary established May 2021 with 5억원 capital; serves as accelerator (AC) registered with Ministry of SMEs and Startups; operates MATE Program for early-stage startup support; AUM of 12억원; focuses on seed-stage investments and startup cultivation
• Gyeongnam TechnoPark (경남테크노파크)coreStrategic or Co-development PartnerRegional technology innovation center; co-develops technology-based startups; manages joint programs for manufacturing and deep-tech companies
• Gyeongnam Creative Economy Innovation Center (경남창조경제혁신센터)coreStrategic or Co-development PartnerOperates Gyeongnam-type TIPS program with Gyeongnam Venture Investment; joint acceleration programs; G-Space startup hub operations
• Korea Electrical Research Institute (한국전기연구원)coreStrategic or Co-development PartnerJointly operates InnoPolis Campus program for Changwon/Kimhai R&D special zone; supports technology commercialization and IP development
• Changwon Chamber of Commerce (창원상공회의소)coreStrategic or Co-development PartnerFounding shareholder; provides business network access and local corporate connections for startup ecosystem development
• Gyeongnam Regional Small and Medium Enterprise Administration (경남지방중소벤처기업청)coreStrategic or Co-development PartnerGovernment partner for regional SME support programs; facilitates regulatory support and policy linkage for portfolio companies

Scale indicators9 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Smilegate Investment: Corporate-affiliated Korean VC investing across content, platform, and deep tech. Comparable multi-fund structure and early-to-growth stage mandate; differs in corporate parentage but is a frequent co-investor in marquee Korean rounds.
• Atinum Investment: One of Korea's largest domestic VC/PE firms investing across seed through pre-IPO stages. Comparable fund structure, sector breadth, and stage focus, with broader national reach but less regional concentration.
• Korea Venture Investment Corp (KVIC): The state-backed 'Mother Fund' manager that anchors most Korean VC funds — including multiple GNVI funds. Operates the same fund-of-funds and direct fund model nationwide, making it a direct strategic counterpart and fund LP/competitor in deal sourcing.
• SBI Investment Korea: Active early-to-growth-stage Korean VC affiliated with SBI Holdings. Overlaps with GNVI on sector breadth (ICT, bio, deep-tech), stage mix (Series A through pre-IPO), and policy-fund LP relationships.

Broad incumbents

• Korea Investment Partners (KIP): Long-established Korean VC/PE manager with multi-sector and multi-stage exposure. Compares to GNVI on stage (early-to-growth) and venture deployment, though KIP is a national generalist with significantly larger AUM.
• KB Investment: Top-tier Korean VC/PE backed by KB Financial Group. Similar dual focus on early-stage venture and growth equity, with the same policy-fund linkage that anchors much of GNVI's capital base.

Emerging players

• Kakao Ventures: Corporate VC arm of Kakao focused on seed and Series A startups, particularly content, fintech, and platform plays. Shares GNVI's emphasis on early-stage sourcing and minority investing across Korean technology sectors.
• DSC Investment: Seoul-based early-to-growth Korean VC active in IT, biotech, and platform sectors. Overlaps with GNVI on stage and selected sectors; operates with a similarly lean team and multi-fund structure.
• Naver D2SF (D2 Startup Factory): Corporate accelerator/VC of Naver targeting seed and early-stage Korean startups in AI, content, and commerce. Provides a comparable early-stage pipeline development model to GNVI's Co-up Partners MATE Program.

Regional players

• BNK Investment: Investment arm of BNK Financial Group, the parent of BNK Gyeongnam Bank. Acts as a sister vehicle to GNVI within the same banking group and geography, deploying venture and growth capital across the Gyeongnam region and adjacent provinces.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments18 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Gyeongnam Venture Investment