Hyundai Motor Securities Selected as Entrusted Manager for the Mother Fund's Future Environmental Industry Sector

Hyundai Motor Securities announced on the 15th that it has been selected as a co-GP with Infra Frontier Asset Management in the Future Environmental Industry sector of the 2023 2nd Regular Fund of Funds Investment Project.

This fund is part of the Fund of Funds investment project led by Korea Venture Investment Corp., with participation from Korea Venture Investment Fund of Funds (KRW 50 billion), private investors (KRW 25 billion), Hyundai Motor Securities (KRW 2 billion), and Infra Frontier Asset Management (KRW 0.5 billion), totaling KRW 77.5 billion, and is scheduled to be established in August. Notably, the KRW 50 billion contribution from the Fund of Funds is the largest ever from the Ministry of Environment account.

The Fund of Funds is a type of fund that invests indirectly by contributing to other funds instead of investing directly in individual companies. In Korea, it refers to a government-led fund that invests in venture capital firms to foster specific industries.

The primary investment targets are startups or small and medium-sized enterprises engaged in future environmental industries, including the five core green sectors such as clean air industry and resource circulation. The fund plans to focus investments on seven areas within this sector, including biogas, waste batteries, and carbon emission rights.

Kim Tae-san, Executive Director and Head of IB1 Division at Hyundai Motor Securities, said, “As joint managers, we will actively leverage the strengths of each company to create synergy,” and added, “We hope this fund will lead to innovative carbon neutrality activities driven by the private sector.”

Meanwhile, Hyundai Motor Securities obtained a new technology business finance company license in 2017 to strengthen venture investments and currently operates more than six new technology funds.

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