Two Management Firms Selected for 'Front1 Fund' Supporting Youth Startups

Selection of 2 Companies Among 11 Asset Management Firms That Submitted Proposals in November

[Asia Economy Reporter Park Sun-mi] Korea Development Bank, Korea Growth Investment Corporation, and the Banks’ Youth Startup Foundation (hereinafter D.CAMP) announced on the 29th that they have selected Crit Ventures and Translink Investment as the entrusted operators of the FRONT1 fund to support youth startups and expand employment.

Considering the recent worsening COVID-19 situation, the three organizations including Korea Development Bank swiftly completed the selection process of the entrusted operators for the FRONT1 fund through a non-face-to-face evaluation method. By raising a total fund of 42 billion KRW in the first half of next year, they plan to expand investment opportunities for companies related to FRONT1, Korea’s representative startup support space, and link investments to companies participating in D-Day, a demo day program favored by startups.

A Korea Development Bank official stated, "We expect this to provide a new innovative growth engine to support youth startups and expand employment."

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