Ministry of Industry Establishes CVC Fund Worth 80 Billion Won

The Ministry of Trade, Industry and Energy announced on the 24th that it is recruiting fund managers for the 'Corporate Venture Capital (CVC) Scale-up Fund' to promote open innovation between large and medium-sized enterprises and small and medium-sized enterprises.

CVC refers to venture capital firms where non-financial corporations are the major shareholders. The CVC Scale-up Fund is a fund established by the parent company that set up the CVC to support the rapid market entry and growth of investee small and medium-sized enterprises. The fund being raised this time is a follow-up to the first and second funds, which were raised in March with a total scale of 121 billion KRW, aiming to raise at least 80 billion KRW. The investment targets are small and medium-sized enterprises and medium-sized enterprises that belong to national advanced strategic industries.

In accordance with the characteristics of CVC funds, when selecting fund managers, in addition to fund management capabilities, the strategy and system linking the parent company's technological capabilities, commercialization capacity, network, and overseas market entry capabilities to support investee companies will be the focus of evaluation. For more details, please refer to the Korea Institute for Advancement of Technology (KIAT) website.

Lee Min-woo, Director of Industrial Technology Convergence Policy at the Ministry of Trade, Industry and Energy, stated, "In major countries, CVCs play a central role in the innovation ecosystem," and added, "With recent regulatory relaxations on CVCs announced, investment activation is expected, and we hope that the CVC Scale-up Fund will contribute to the innovative growth of the domestic industry."

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