Shinhan Asset Management Forms Shinhan Venture Secondary Fund No.1 Worth 38 Billion KRW

Shinhan Asset Management announced on the 18th that it had established the ‘Shinhan Venture Secondary Fund No.1’ with a total size of 38 billion KRW on the 12th.

Korea Venture Investment Corporation announced a venture secondary sector investment project last June to revitalize the venture secondary market by expanding the investment scope from existing venture capital (VC) firms to asset management companies.

As a result, in September last year, three companies including Shinhan Asset Management, Quad Asset Management, and NH Hedge Asset Management were finally selected for the Korea Fund of Funds venture secondary sector and secured investment commitments of about 10 billion KRW. The newly established ‘Shinhan Venture Secondary Fund No.1’ is the first case among the three selected companies and is expected to serve as a signal for expanding the venture ecosystem infrastructure to foster small and venture businesses.

The ‘Shinhan Venture Secondary Fund No.1’ established by Shinhan Asset Management was formed with a total operating size of 38 billion KRW. Major investors participating in this fund include domestic institutional investors such as Korea Fund of Funds, Shinhan Financial Group, Timefolio Asset Management, JB Woori Capital, and Kiwoom Securities.

Shinhan Asset Management has accumulated experience by managing about 1 trillion KRW in mother funds as a venture capital mother fund manager, including Shinhan Startup Venture Fund, Innovation Growth Financial Mother Fund, and Asan Angel Fund, building a platform unique to Shinhan Financial Group within the venture capital market. Based on the know-how and network accumulated in the venture capital market through mother fund management, Shinhan Asset Management plans to incorporate undervalued high-quality assets within the venture capital market. Additionally, through recently selected financial mother funds, it plans to continuously expand the venture platform base encompassing both public and private sectors.

Seongho Jo, Head of Special Asset Management at Shinhan Asset Management, said, “Through the establishment of the Shinhan Venture Secondary Fund, we will expand the base from indirect investment to direct investment. We will consolidate the group’s capabilities to ultimately revitalize the dynamic venture ecosystem, which is a key government agenda, along with the activation of the secondary market.”