Korea Development Bank Selects Seven Delegated Fund Managers for Second Round of National Growth Fund Policy Sub-Funds
Fundraising to Be Completed Within the Year
Swift Execution of Investments Expected
Korea Development Bank and Korea Growth Investment Corporation announced on July 13 that they have finalized the selection of seven management companies as secondary sub-fund managers for the "National Growth Fund (Indirect Investment Sector) Policy Fund."
The National Growth Fund Policy Fund was established to secure global competitiveness in advanced strategic industries and support the venture and innovation ecosystem. The scale of the secondary project amounts to 1.6 trillion won, with seven management companies selected, resulting in a competition rate of 9.3 to 1.
The selected sub-fund managers are expected to complete the fund formation within the year and swiftly execute investments to strengthen the competitiveness of domestic advanced strategic industries, vitalize the KOSDAQ market, and drive the growth of regional innovative companies. In particular, the region-specific league is designed to focus funding on the local advanced strategic industry ecosystem, which is expected to help narrow the GDP gap between the Seoul metropolitan area and other regions.
An official from Korea Development Bank stated, "With the completion of the first-year selection of management companies for the National Growth Fund Policy Fund, we have established the foundation for investments in advanced strategic industries. Policy finance will serve as the priming water to attract private capital into advanced strategic industries, and we will make every effort to ensure swift investments into innovative companies."
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Previously, Korea Development Bank selected 11 management companies for the first round of sub-fund managers for the National Growth Fund Policy Fund, and with this second round, a total of 18 management companies have now been selected.
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