Draper to Set Up Venture Capital Firm in Busan to Invest in K-Content, Physical AI, Biotech and Blockchain

Draper, a prominent Silicon Valley venture investment firm, is setting up a venture capital company in Busan and will begin investing in domestic K-content, physical AI companies and other sectors.

The Busan Technology Startup Investment Foundation announced on the 24th that it had succeeded in attracting the headquarters of Draper X Ventures to Busan. Draper X Ventures is a venture investment firm established by Draper Startup House Korea Center (DSH Korea), the Korean arm of the global venture group Draper. The Draper Group manages about 3.5 trillion won in venture capital worldwide, according to industry estimates.

Key facts

• DSH Korea, the Draper Group’s Korean arm, has formed the venture firm Draper X Ventures

• It will focus on promising companies in K-consumer goods such as food, beauty and content, as well as biotech, physical AI and blockchain.

Headquarters Set for Busan’s TiUM Hub, With Focus on K-Consumer Goods, Biotech, Physical AI and Blockchain

Draper X Ventures plans to base its headquarters at TiUM, the startup and investor hub operated by the Busan Technology Startup Investment Foundation, and begin active investing. According to venture capital industry sources, DSH Korea recently established Draper X Ventures in Busanjin District, Busan. Its corporate bylaws include making investments in startup and venture companies and operating venture and new-technology business investment funds; industry sources say the launch is in its final stages. The Busan Technology Startup Investment Foundation expects that attracting a global investor like Draper will significantly contribute to connecting Busan startups with overseas business partners and investor capital. A foundation official said, “By attracting a global investor, we have secured a local global investment foothold and opened a channel to global markets through overseas investment roadshows.”

Who is Tim Draper? The Silicon Valley legend who invested in Tesla and Bitcoin

Tim Draper, founder of the Draper Group, is regarded as one of Silicon Valley’s leading venture investors and invested in Hotmail, Baidu and Tesla. Born in 1958, he graduated from Stanford University with a degree in electrical engineering and earned an MBA from Harvard Business School.

He invested in Tesla, SpaceX, Twitter, Skype, Twitch, Coinbase, Hotmail and Bitcoin, among others, amassing more than $1 billion (about 1.1226 trillion won) in wealth and earning a legendary reputation in Silicon Valley. He is a third-generation venture capitalist from the Draper family, following his grandfather, who was one of Silicon Valley’s first venture investors, and his father, a well-known venture investor. His children have also set up independent VCs and continued the family tradition.

Draper has shown a strong interest in blockchain investments. Industry observers say the move could create synergies with Busan’s “blockchain regulatory-free zone.”

DSH’s expansion across 35 countries and its Korea strategy: “Securing Busan and Incheon”

Draper operates separate affiliated firms by investment stage: Draper Fisher Jurvetson for late-stage investments, Draper Associates focused on growth-stage investing, and Draper Startup House (DSH) centered on early-stage investments.

DSH serves as a key pillar of the group’s global network expansion strategy and has established bases in more than 35 countries. DSH Korea was founded under this strategy; in April it completed registration as an accelerator (AC) with the Ministry of SMEs and Startups and has started fund formation and direct investments in Korea.

The establishment of Draper X Ventures fits into DSH’s global expansion plan. By leveraging Busan’s local investment ecosystem, including the Busan Technology Startup Investment Foundation, DSH aims to preemptively secure strategic bases in Asia—such as Busan and Incheon—and position them as global startup hubs. DSH Korea first opened a Garosu-gil Center in Gangnam, Seoul, then secured a Songdo Center in Yeonsu District, Incheon, and now has established a VC near Seomyeon in Busan to build its foundation.

Led by veteran IB and VC executive Lee Se-yong; Oh Kang-rok joins as inside director

Lee Se-yong, CEO of DSH Korea, will concurrently serve as CEO of Draper X Ventures. He graduated from Seoul National University with a degree in materials engineering and completed a master’s program in artificial intelligence at KAIST. He began his career at Bain & Company, later completed an MBA at the MIT Sloan School of Management, worked at Citi Global Markets Securities, and joined SK Telecom America, SK Telecom’s Silicon Valley–based corporate venture capital (CVC). He also worked at Boston Consulting Group and AIA Life Insurance and later led Arthur D. Little’s Korea office, building experience across investment banking.

Oh Kang-rok, who serves as a DSH Korea representative and head of the Startup Growth Support division, will join as an inside director. He will help implement various venture studio models, build business-support and co-investment models using organic partnerships, and support the discovery of promising companies.