VC Association and Financial Investment Association Sign Agreement to Promote Productive Finance
Venture Investment and Capital Market Collaboration
Supplying Venture Capital to Innovative Companies
The Korea Venture Capital Association (VC Association) and the Korea Financial Investment Association announced on August 28 that they had signed a "Financial Business Agreement for the Promotion of Productive Finance" at the Geumtu Center in Yeouido.
This agreement aims to solidify a step-by-step support system that connects the investment capabilities of the capital market and the expertise of the venture capital industry, leading to the discovery of innovative companies, stage-by-stage investment, and scaling up.
In particular, the agreement covers not only the introduction of the Business Development Company (BDC), which passed the National Assembly the previous day, but also the expansion of productive finance through collaboration on various corporate investment instruments such as commercial paper and Integrated Managed Accounts (IMA); the development of joint projects to increase the supply of venture capital to venture and innovative companies; and the achievement of shared goals through the establishment of sound investment practices and investor protection.
The two associations plan to use this cooperation to build a sustainable collaborative ecosystem that will provide practical support for the growth of innovative companies. Lee Junhee, Executive Vice President of the VC Association, stated, "The growth of innovative venture companies is the future growth engine of our economy. As venture capital is a key funding channel for innovative companies and startups, this agreement will further strengthen the collaboration between venture investment and the capital market, advancing the ecosystem for corporate growth."
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Seo Yooseok, Chairman of the Korea Financial Investment Association, said, "We welcome the passage of the BDC bill, and at a time when the expansion of productive finance is being pursued as a key national policy, this agreement is highly significant." He added, "We will further strengthen the capital-raising system that stably supplies venture capital to innovative companies through various investment instruments in the financial investment sector, such as commercial paper, IMA, and BDC."
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