Busan Finalizes Three Sub-Fund Managers for 'Future Industry Transition Fund No. 1'... Total Expected to Exceed 800 Billion Won

More Than 15 Times the Size of the Parent Fund
"Boosting Momentum for Investment in Local Companies"

The three sub-fund management companies for the 'Busan Future Industry Transition Fund No. 1' have been finalized.

The city of Busan announced that the three companies selected as sub-fund managers for the 'Future Industry Transition Fund No. 1,' the first fund established by a local government, are Wonik Investment Partners, Aju IB Investment, and No & Partners.

On the 28th, the city announced the results, stating, "With the participation of capable management companies, investment in local small and medium-sized enterprises and mid-sized companies will accelerate."

Since the formation of the 55.1 billion won parent fund in June, a total of six firms applied for the sub-fund manager selection, resulting in a competition ratio of 2 to 1. The three final selections each have distinct strengths: Wonik Investment Partners is recognized as a mid-sized management company with proven performance, Aju IB Investment is a large-scale company with extensive experience and size, and No & Partners is considered a next-generation manager with a strength in proactive investment.

Each manager aims to establish a sub-fund of the following size: Wonik Investment Partners, 400 billion won; Aju IB Investment, 313 billion won; and No & Partners, 150 billion won. All three have already secured more than half of their committed capital, and are expected to complete fundraising by the end of the year without difficulty.

In addition to the blind funds selected this time, one 'project fund' with a predetermined investment target will be established through a separate process. As a result, the total size of the sub-funds is expected to expand to over 800 billion won. This is about 15 times the size of the parent fund, 55.1 billion won, and is expected to provide significant leverage to boost investment in local companies.

Korea Growth Investment Corporation, the parent fund manager, plans to complete the follow-up procedures, establish one additional project fund within the year, and accelerate the process of identifying the first investment targets for the 'Future Industry Transition Fund No. 1.'

Lee Jinsu, Director of Financial Startup Policy for the city of Busan, emphasized, "With the selection of these management companies, investment in local companies will begin in earnest," adding, "The city will do its utmost to drive industrial innovation in the region by identifying qualified companies and providing tailored support."

Busan City Hall.

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