KVIC seeks a global VC manager

The South Korean FoF manager issues an RFP for a VC fund.

Institution: Korea Venture Investment Corporation
Headquarters: Seoul, South Korea
AUM: $4.1 billion

Korea Venture Investment Corporation has issued a request for proposal for venture capital managers.

The pension plans to commit a total of 75 billion Korean won ($66.4 million; €55.5 million) to a venture fund manager. KVIC will invest through its fund of funds vehicle, the Foreign VC Investment Fund. The eligible manager should manage a venture capital fund with at least one-third of its commitment is from non-Korean limited partners, and possess at least two years of investment experience at venture capital firms.

The submission date is 12 April and a decision will be put to the investment committee in June.

As illustrated below, the Korean investor’s recent private equity commitments have focused on venture capital/growth equity in Asia-Pacific and North America.

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