Asan Nanum Foundation Revises Investment Operation Direction for Jeong Ju-young Angel Investment Fund

Focus on Diversifying Stakeholders, Regions, and Forms within the Investment Ecosystem and Operation Strategies

[Asia Economy Reporter Kim Cheol-hyun] Asan Nanum Foundation (Chairman Jang Seok-hwan) announced on the 13th that it will reorganize the investment operation direction of the Jeong Ju-young Angel Investment Fund. The Jeong Ju-young Angel Investment Fund is a fund established by Asan Nanum Foundation in February 2012 with a scale of 100 billion KRW to revitalize the domestic startup and investment ecosystem. So far, investments have been made in about 31 funds and accelerators, and the total amount of funds formed through this fund reaches approximately 1.3 trillion KRW. Shinhan Asset Management has been selected as the entrusted management company and is responsible for the entrusted management operation of the investment project for the angel fund.

Marking the 10th anniversary of the establishment of the Jeong Ju-young Angel Investment Fund, Asan Nanum Foundation set a mission to enrich the startup investment ecosystem as a "catalyst capital supporting various entities, fields, and methods of attempts," and newly established three directions for fund operation. First, to diversify the entities within the investment ecosystem, it set a policy to support the formation of initial funds for emerging venture capitals and strengthen support for fund formation where women and founders participate as key operating personnel. Additionally, it decided to expand collaboration with startups by supporting fund formation that attracts limited partners (LP) who want strategic collaboration with startups. Furthermore, it plans to contribute to the expansion of private capital and globalization of the venture capital market by supporting fund formation involving new and overseas LPs.

As a measure to support the expansion of investment in underserved sectors and regions, it will support the formation of funds that invest in under-invested areas, funds that invest outside the metropolitan area, and funds that can assist overseas expansion. Through this, it aims to expand startups' opportunities to attract investment and further help startups expand their business regions. Lastly, to diversify investment types and operation methods, it plans to participate in funds that attempt new investment types and capital structures. This is intended to expand venture capital's capital procurement and management methods and diversify ways of investing in startups.

Jung Nam-yi, Executive Director of Asan Nanum Foundation, said, "We hope that the Jeong Ju-young Angel Investment Fund will provide practical help to various startups and enrich the investment ecosystem."