Korea Venture Investment Selects Fund Managers for Mother Fund 'K-Value & Marine New Industry'

Korea Venture Investment Corp. announced on the 23rd that it has selected two final sub-fund managers in the ‘2023 Mother Fund (Marine and Culture Account) June Ad-hoc Investment Project.’

In this investment project, the Mother Fund will invest a total of 23 billion KRW. The fund managers plan to combine private capital to form sub-funds totaling 40.1 billion KRW.

Previously, 10 funds submitted applications. The requested investment amount reached 108.1 billion KRW.

The most competitive sector was the marine new industry. A total of six funds requested 78 billion KRW in investment. Among them, one final fund was selected, securing 13 billion KRW from the Mother Fund. Adding 7 billion KRW more, a sub-fund worth 20 billion KRW will be established.

In the K-Value sector, four funds requested 30.1 billion KRW in investment. Among these, one fund will form a sub-fund worth 20.1 billion KRW through a 10 billion KRW investment from the Mother Fund.

Although the initial goal was to form sub-funds worth 35.3 billion KRW, the target was exceeded in all sectors, resulting in the formation of sub-funds in the 40 billion KRW range.

Yu Woong-hwan, CEO of Korea Venture Investment Corp., emphasized, “This investment project was an effort to meet market capital demand by promptly re-announcing sectors that were not selected in previous investment projects,” adding, “It will contribute to promoting the inflow of private capital into the recently tightened venture investment market.”

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