The South Korean Ministry of SMEs and Startups revealed its selection of seven global fund management companies for 2023. Among those chosen are DCM, Greyhound Capital, and Headline Asia. These selections were made post rigorous reviews by the Korea Venture Investment Corporation and the Investment Committee. This year’s initiative aims to generate over KRW1.3tr (USD970m) with a KRW64.9bn seed from the fund of funds. The effort witnessed a competitive application process with 45 overseas venture capital firms vying for a spot. Since 2013, the ministry has leveraged global funds, managing 59 funds worth KRW8.85tr to support domestic ventures’ global outreach. Minister Lee Young emphasised the ministry’s commitment to strengthening overseas networks and expanding domestic startups globally.
Comments