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Biz News Korea(Eng)

Korea’s angel fund investment in startups hit $123 mn in 2015

Collected: 2016.07.27

Distributed: 2016.07.28

Source: Go Direct

Investment in startups by South Korean angel capital reached 139.9 billion won ($122.5 million) last year, helped by tax incentives to encourage the venture sector.

According to data released by Small and Medium Business Administration on Tuesday, the total amount of angel capital recorded 139.9 billion won last year, jumping 67.7 percent from 83.4 billion won in 2014.

The actual fund is estimated to have been larger as 2015 investment is tax deductable until 2018.

The number of consortiums formed by individual investors is also on a rise. Last year, there were 89 angle capital groups - up 61.8 percent - raising 44.6 billion won, up 9.8 percent from the previous year.

This year, the number of groups exceeded 100 by the end of June.

By Chung Soon-woo

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