Private markets are seizing up—and for founders and fund managers, it is no longer just a cyclical downturn. The deeper issue is that the capital recycling engine behind venture capital (VC) is stalling, raising the stakes for ‘tokenization’ as a structural fix rather than an optional experiment.
Across South Korea’s startup hubs—from Gangnam and Yeouido to Pangyo—late-stage fundraising has become markedly harder. Startups preparing Series B and C rounds are delaying timelines, accepting down rounds of 30–40% from prior valuations, or exploring outright sales. The stress is not limited to… Read more







