The Teachers' Mutual Aid Association Seeks VC Blind Fund Managers... Applications Open Until the 24th

[Asia Economy Reporter Park Jihwan] The Korea Teachers' Credit Union announced on the 1st that it will publicly recruit entrusted operators for the 2020 domestic venture capital (VC) blind fund until the 24th.

The new VC blind fund investment scale this time is a total of 150 billion KRW, an increase of 60 billion KRW compared to last year's investment scale.

The Credit Union will divide leagues according to the scale and experience of management and select up to 10 entrusted operators (around 3 large companies, 4 medium companies, and 3 rookies).

Large and medium companies will be selected based on a formation scale of 120 billion KRW, and rookies with a formation scale of less than 50 billion KRW will be selected separately.

Also, by operating the league system, it plans to select operators of various scales to create a VC growth ecosystem, lay the foundation for nurturing domestic unicorn companies, and attempt balanced development of the VC market.

The Credit Union will close proposal submissions by the 24th and, after going through the evaluation process, will finally select entrusted operators in November.

Kim Hohyun, Chief Investment Officer (CIO) of the Credit Union, said, "The Credit Union has regularly invested 129 billion KRW in 2017 and 90 billion KRW last year in VC to promote the activation of the venture market," adding, "This year, through maximum investment and selection of excellent entrusted operators by league, we will support portfolio diversification, improvement of asset management returns, and fostering of innovative growth sectors."

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