Ministry of SMEs and Startups: "Mothe Fund to Swiftly Proceed with 910 Billion KRW Investment Project within Q1"

Venture Investment Industry Meeting on the Mother Fund Contribution Project

The Ministry of SMEs and Startups held a meeting with industry representatives regarding the 2024 Mother Fund investment project on the 31st at the Kensington Hotel in Yeouido.

Presided over by Vice Minister Oh Ki-woong, the meeting was organized to gather final opinions from the venture investment industry ahead of the first regular investment project of the 2024 Mother Fund scheduled for February 5.

[Image source=Yonhap News]

The Mother Fund is a fund where the government invests in venture capital firms instead of directly investing in individual companies, and Korea Venture Investment Corp., an affiliate of the Ministry of SMEs and Startups, is responsible for managing the Mother Fund.

The meeting was attended by a balanced group ranging from large and medium-sized venture capital firms with assets under management exceeding 500 billion KRW to rookie venture capital firms with less than 100 billion KRW, including Yoon Geon-su, chairman of the Korea Venture Capital Association, and Shin Jin-oh, chairman of the Korea Accelerator Association.

Vice Minister Oh Ki-woong stated, "The Ministry of SMEs and Startups has set the Mother Fund investment scale at 910 billion KRW, double the original budget of 454 billion KRW, and will proceed with the full investment project in the first quarter to fully support the early recovery of venture investment. We will also accelerate market-friendly institutional improvements such as restructuring the Rookie League and rationalizing management fees."

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