Shinhan Asset Management Selected as Entrusted Management Institution for Asan Angel Fund

[Asia Economy Reporter Minji Lee] Shinhan Asset Management announced on the 15th that it has been selected as the manager and entrusted operator of the Asan Angel Fund.

The Asan Angel Fund is a fund established by the Asan Nanum Foundation to support youth entrepreneurship. The Asan Nanum Foundation is a public interest foundation launched in October 2011 to commemorate the 10th anniversary of the passing of Asan Jeong Ju-young, the founder of Hyundai. It has raised 600 billion KRW in funds and has been conducting projects to spread entrepreneurship, support youth startups, and strengthen the capabilities of social innovators. Along with operating the startup support center Maru180, the Asan Nanum Foundation has invested in over 900 startups through the 'Jeong Ju-young Angel Investment Fund' to revitalize the venture investment ecosystem and supports the emergence of entrepreneurs like the second and third Chairman Jeong Ju-young. Shinhan Asset Management will be responsible for advisory and entrusted management operations for the angel fund investment contribution project for the next three years.

In the recent selection review, Shinhan Asset Management was recognized for its comprehensive capabilities in venture investment, including a systematic operation process for venture investment, one of the industry's top-tier bond investment risk management systems, and utilization of Shinhan Financial Group's venture investment business network. Since 2018, through the Shinhan Startup Venture platform, which focuses on venture fund investments, Shinhan Asset Management has participated in the formation of funds for 76 sub-funds (totaling 5 trillion KRW) through contribution commitments of 390.5 billion KRW across four startup venture funds, maintaining stable operations.

Lee Chang-gu, CEO of Shinhan Asset Management, emphasized, “Shinhan Financial Group has supported the growth of 18,000 innovative companies and contributed to the creation of over 56,000 jobs through loans and investments over the past year to build an innovation growth ecosystem. We expect to create synergy in establishing a new incubating ecosystem that supports the birth and growth of new companies in various ways by collaborating with the Asan Nanum Foundation.”

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