Korea Development Bank Selects Growth Support Fund Manager with 2.6:1 Competition Ratio

Final Selection of Up to 19 Entrusted Asset Management Firms by Late April Through Fair Evaluation Process
Over KRW 2.5 Trillion Fund Including KRW 400 Billion Large Venture Fund for Unicorn Company Development

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[Asia Economy Reporter Kangwook Cho] The Korea Development Bank and Korea Growth Investment Corporation announced on the 9th that a total of 49 management companies applied for the '2020 Growth Support Fund Delegated Manager Selection' proposal submission, which closed on the 6th, showing a competition rate of 2.6:1.

By league, 3 mid-sized companies (1.5:1), 4 scale-up growth (large VC) companies (2.0:1), 15 scale-up growth (general) companies (3.0:1), 16 scale-up innovation companies (2.7:1), and 11 rookie companies (2.8:1) applied respectively.

The Korea Development Bank plans to select up to 19 delegated managers by the end of next month through a transparent and fair evaluation process and raise a fund of more than 2.5 trillion KRW.

This fund is expected to focus investments on innovative venture, small and medium, and mid-sized companies at the growth stage, as well as the Fourth Industrial Revolution sectors.

This content was produced with the assistance of AI translation services.