Alice Partners Forms Rookie Fund Exceeding 25 Billion Won, Establishes Strong Position as Emerging VC

Successful Launch of First Blind Fund

Focusing on AI and Bio Companies

Venture capital (VC) firm Alice Partners has successfully closed its first blind fund at 25 billion won, proving its capabilities and competitiveness despite being a newcomer in the VC industry.

According to the VC industry on July 29, Alice Partners completed the early formation of a 25 billion won rookie fund on this day, after being selected as the general partner (GP) for the first regular sub-fund commitment project under the purview of the Ministry of SMEs and Startups mother fund. Although the minimum target size was 17 billion won, the firm raised a significantly larger amount.

The primary investment targets of the rookie sector are early-stage startups founded within the past three years. As a GP, Alice Partners must invest at least 60% of the total committed capital in companies with annual sales not exceeding 2 billion won since incorporation. Companies in artificial intelligence (AI), bio, and energy sectors are expected to benefit. GPs that have been registered for less than five years and have total committed capital of under 100 billion won are eligible to participate in the rookie sector.

This fund is Alice Partners’ first blind fund, and CEO Seong Sanghwan will serve directly as the lead fund manager. CEO Seong has accumulated significant expertise through roles such as Executive Director at SBI Investment’s Venture Capital Division and at Songhyun Investment’s Investment Division. The core management team consists of co-founder and partner Eom Soyoung, formerly of Yuanta Investment, and partner Park Seongbin, formerly of YG Investment.

Alice Partners, established in 2022 as a limited liability company (LLC)-type VC, has been steadily solidifying its position by continually securing major limited partner (LP) commitments. Last month, it was also selected as a GP for the Land, Infrastructure, and Transport Innovation (general) sector of the Ministry of Land, Infrastructure and Transport’s investment account under the mother fund’s second regular sub-fund commitment project, with fund formation scheduled for September.

In addition, Alice Partners has previously been selected as GP for several other commitments, including the Korea Growth Investment Securities Finance account, IBK Bank, and Jeonbuk Province.

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