San: "41 Companies Apply for the 1st Innovation Growth Fund Delegated Management Company Public Offering"
On the 19th, Korea Development Bank announced that a total of 41 companies applied for the first round of selection for the Innovation Growth Fund's entrusted operators.
The Innovation Growth Fund is designed to nurture global unicorn companies (venture companies valued at over 1 billion USD). Korea Development Bank and Growth Finance will complete the selection of 10 sub-fund entrusted operators by June through a screening process and plan to raise an Innovation Growth Fund worth 3 trillion KRW within the year.
Korea Development Bank stated, "As the lead institution of the Innovation Growth Fund, we will provide initial capital to the weakened venture capital market and continue investing to revitalize the private venture capital market."
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