South Korea seeks Silicon Valley VC backing as NPS signs investment MOUs

South Korea has moved to deepen venture capital ties with Silicon Valley as President Lee Jae-myung has urged six of the world’s largest venture capital firms to invest in Korean startups while the National Pension Service has signed long-term investment cooperation agreements with them. Summary South Korea has partnered with six leading Silicon Valley venture capital firms while the National Pension Service signed long term investment cooperation agreements with them. President Lee Jae myung has asked the global investors to increase funding for Korean startups as the government expands support for technology industries. The government is pairing the initiative with its planned 200 trillion won National Growth Fund to support sectors including AI and semiconductors. Industry observers have warned that heavy investment into a small number of startups could inflate valuations and affect future investment returns. According to South Korean newspaper Asiae, President Lee Jae-myung has asked six major Silicon Valley venture capital firms, including Sequoia Capital, Andreessen Horowitz (a16z), Khosla Ventures, Lightspeed Venture Partners, General Catalyst and New Enterprise Associates (...