Seoul to Invest $23M for First Round of Seoul Vision 2030 Fund This Year, Including AX

The Seoul Metropolitan Government (SMG) recently saw the successful listing of automotive cybersecurity provider Autocrypt—one of its fund-backed startup successes—on the KOSDAQ stock market. To help outstanding startups navigate the "death valley" phase, establish market footing, and scale operations, Seoul is once again boosting efforts through the Seoul Vision 2030 Fund.

The Seoul Vision 2030 Fund is a city-led initiative aimed at nurturing future industries and strengthening the startup ecosystem. From 2023 to 2026, the fund seeks to raise a total of $3.85 billion (₩5 trillion) through city investments, national funds of funds, and private capital. So far, $116 million (₩151 billion) has been committed for 2023–2024, forming a cumulative total of $2.05 billion (₩2.6646 trillion).

📊 Fund Status by Year

Category                        Total            2023      2024

Total Funds               $2.05B     $1.06B     $985M

Seoul Investments         $116M     $54M     $62M

Between July and August, Seoul plans to invest $23 million (₩30 billion) to help reach a fund size of $373 million (₩485 billion) this year. Over half of this will go toward the AI sector, enhancing the city’s competitiveness in AI technologies. The city has previously announced a dedicated AI fund goal of $385 million (₩500 billion) over two years starting in 2025.

Now in its third year, the first round of 2025 investment will inject $23M into key areas:

🧬 First Round 2025 Investment Plan (in USD)

Category            Total Target     AX (AI)   Biotech    “Angel” Startups

Target Funds         $373M     $192M     $146M     $35M

Seoul's Share         $23M            $11.5M      $7.7M     $3.8M

*AX (AI transformation): Covers AI infrastructure, foundational models, data analytics, computing, and full-stack AI services.

From 2019 to 2022, Seoul invested $470 million (₩611.5 billion) in 262 AI companies through its Future Innovation Growth Fund. In 2023–2024, another $56 million (₩72.8 billion) supported 51 AI companies via the Seoul Vision 2030 Fund. These initiatives are tightly linked with city policy and private investor networks to back high-potential startups.

Proposals from fund managers are accepted from 12 PM, Mon, July 14 to 2 PM, Mon, July 28, only via the city’s exclusive cyberlocker, in line with the “Paperless Seoul” policy.

📍 Visit www.seoul.go.kr or www.sba.seoul.kr for the full official announcement.