Investment in domestic startups and small and midsize corporations jumped in the third quarter this year. However, large sums were concentrated in mid- to late-stage corporations.
According to The VC on the 2nd, investment in domestic startups and small and midsize corporations in the third quarter of 2025 reached 2.4326 trillion won, up 152% from the previous quarter and 24% from a year earlier. It was the first time since the fourth quarter of 2023 that quarterly investment surpassed 2 trillion won.
Funds were concentrated in large deals for a small number of corporations. AI semiconductor startup Rebellions raised a 340 billion won Series C. It is the largest investment in a domestic unlisted startup in the past three years. Medit and FuriosaAI also each raised more than 100 billion won, with 11 rounds of 50 billion won or more and 64 rounds of 10 billion won or more.
By stage, most investments were concentrated in Series B–C. Mid-stage rounds accounted for 70% of total investment, expanding sharply from the 40%–45% range in the previous quarter. In contrast, at early stages such as seed–Series A, the number of deals fell 44% and the amount invested dropped 16%.
By sector, investment surged in artificial intelligence and semiconductors. The number of AI deals in the third quarter was 51, down more than 40% from a year earlier, but the amount invested rose 35% to 300.1 billion won. The semiconductor and display sector recorded 605.4 billion won, up 259% from a year earlier, powered by large investments in corporations such as Rebellions and FuriosaAI.