Venture capital (VC) Woori Venture Partners has bet more than 20 billion won on U.S. private fusion corporations.
According to the VC industry on the 29th, Woori Venture Partners participated in the series B2 funding round of the U.S. private fusion corporation Commonwealth Fusion Systems (CFS), investing $15 million (approximately 20.8 billion won).
CFS's latest funding round was recorded at $863 million (approximately 1.19 trillion won). It is considered one of the largest funding rounds in the energy and deep tech sectors.
Woori Venture Partners participated alongside global investors such as Brevan Howard, Morgan Stanley affiliate Counterpoint Global, and NVIDIA's venture capital division.
CFS was established in 2018 as a commercial fusion power plant development corporation, aiming to develop the world's first commercial fusion power plant, ARC, in Chesterfield County, Virginia, by 2030.
Including this series B2 funding round, CFS has raised a cumulative total of over $3 billion (approximately 4.1751 trillion won), solidifying its position as a global leader in the private fusion sector.
Woori Venture Partners has reportedly decided to invest, judging CFS as a promising corporation that can meet the power demand driven by the expansion of AI and EVs (electric vehicles) in an eco-friendly manner.