Sahak Yeongeum to Invest 100 Billion KRW in Domestic VC Blind Funds

[Asia Economy Reporter Park Soyeon] The Private School Teachers' Pension Service (hereinafter referred to as PSTPS) will conduct the 'Venture Capital Blind Fund Delegated Manager Selection' process from the 5th to the 20th of this month.

PSTPS plans to select the top four firms based on evaluation results and commit a total of 100 billion KRW, with up to 25 billion KRW allocated per manager. This amount is 20 billion KRW more than last year. Proposals will be accepted from managers until the 20th, followed by a first round of quantitative evaluation, on-site due diligence of the delegated managers, and a second round of qualitative evaluation (PT), comprehensively assessing the capabilities of the managers to make the final selection by the end of November.

The selection criteria require that among institutions selected as delegated managers by domestic institutional investors, the proposed fund formation scale must be at least 100 billion KRW, with at least 30% of that amount confirmed by institutional investors or others. At least one core investment personnel must have over 10 years of investment experience, and the main office must be located domestically, with all these conditions met by the legal entity.

Investment fields and strategies can be proposed freely, and the target investment entities are venture investment associations and new technology business investment associations under the 'Act on the Promotion of Venture Investment.' Detailed announcements can be found on the PSTPS website notices or through the Korea Venture Capital Association.

Director Joo Myung-hyun stated, "By selecting the best managers with responsibility and capability, we aim to contribute to easing the venture investment market, which has been tightened due to recent global interest rate hikes and economic downturns, and to fulfill social responsibility investment that can achieve fund growth through competitive investments."

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