[초기투자 실종]① 3.3조 벤처투자 호황의 그늘…스타트업 돈줄 말랐다

The Korean venture market faces a critical paradox: while total VC funding surged 24% in Q1, early-stage startup investments actually declined 9.5%, exposing a structural problem in the ecosystem. VCs increasingly favor late-stage companies due to management fee structures and execution efficiency, threatening innovation pipelines. Rising 'AI washing'—where startups without real technological depth use AI as a funding gimmick—reveals that policy capital is being diverted away from genuine tech innovation.