Hyundai Group PEF Hyuntupa Appoints Former Growth Finance Director Kim Minyeop as CEO

'Financial Expert' with Experience at Kibo, Financial Services Commission, and Korea Growth Investment Corporation
Expected to Strengthen Fundraising Capabilities

[Asia Economy Reporter Kwangho Lee] Hyundai Investment Partners has recruited Kim Minyeop, former head of Korea Growth Investment Corporation (Growth Finance). By bringing in a key contributor from Growth Finance, a major limited partner, the firm has strengthened its fundraising capabilities. Attention is focused on the performance it will achieve in future capital contribution projects.

According to the investment banking (IB) industry on the 31st, Hyundai Investment Partners appointed Kim Minyeop, former head of Growth Finance, as the new CEO following the resignation of Park Seongyong, who had a remaining term until March next year but stepped down due to personal reasons. Kim's term runs from this month until March 2024.

CEO Kim is regarded as a veteran with a long career in the financial investment industry. He has worked at the Korea Technology Finance Corporation, Financial Services Commission, and Growth Finance. Most recently, he oversaw the New Deal Fund Management Office. His longest tenure was at Growth Finance, where he worked for nine years, contributing to the activation of domestic venture investment. With a leader from a major LP background, fundraising challenges are expected to be more easily resolved.

Hyundai Investment Partners has changed its head for the first time in five years. The previous CEO, Park Seongyong, had continuously served as CEO since 2017. He succeeded in his reappointment at the regular shareholders' meeting last March, earning the trust of the major shareholder for six consecutive years. However, he left the company with his term still remaining, and the position has been taken by someone from an LP background.

Hyundai Investment Partners is a venture capital (VC) firm established in 2008. After Hyundai Investment Network obtained a New Technology Finance license from the Financial Supervisory Service in 2017, the company changed its name to Hyundai Investment Partners. Chairwoman Hyun Jeong-eun of the Hyundai Group personally contributed private funds during the process of transforming Hyundai Investment Partners into a New Technology Business Finance Specialist Company (Shingisa) and participated in a paid-in capital increase alongside Hyundai Elevator.

Currently, the shareholding structure is as follows: Chairwoman Hyun holds 43.57%, Hyundai Elevator 32.67%, WM Investment 19.8%, and Chairwoman Hyun's son, Jung Youngseon, 3.96%. Since May 2017, Jung has been working as an investment analyst at Hyundai Investment Partners, engaging in investment activities.

According to industry sources, Chairwoman Hyun has a special attachment to Hyundai Investment Partners. In 2016, she sold all financial affiliates including Hyundai Securities, Hyundai Asset Management, and Hyundai Savings Bank to KB Financial Group. Amid this, she has consistently maintained her stake in Hyundai Investment Partners.

Meanwhile, Hyundai Investment Partners' cumulative assets under management (AUM) stand at approximately 250 billion KRW. The amount of pure venture funds, excluding private equity funds (PEF), is smaller than this. Compared to its years of operation, its AUM is relatively low for a typical venture capital firm. It is expected to focus on forming new funds centered around the new CEO.

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