San-eun Receives Applications from 10 Asset Management Firms for 'AI Korea Fund' Public Offering

Ten asset management companies applied for the Korea Development Bank's 'Artificial Intelligence (AI) Korea Fund' entrusted management company public offering.

Photo by Moon Honam, KDB Industrial Bank archive / Moon Honam munonam@

On the 7th, KDB announced that a total of 10 companies submitted proposals following the receipt of proposals according to the 'AI Korea Fund Entrusted Management Company Selection Plan Announcement' on the 6th.

For the medium-sized fund with a scale of 200 billion KRW, one company will be selected, with two asset management companies applying, showing a competition rate of 2 to 1. For the small-sized fund with a scale of 100 billion KRW, three companies will be selected, with eight asset management companies applying, showing a competition rate of 2.7 to 1.

The asset management companies that submitted proposals are Centroid Investment Partners, LB Investment (both for the medium-sized fund), No & Partners, Mirae Asset Venture Investment, Shin Young Securities-T Investment, Alchemist Capital Partners Korea, AFW Partners-CLS K Capital Partners Korea, HB Investment, Industrial Bank of Korea-KB Investment, and Company K Partners (all for the small-sized fund).

KDB will select a total of four entrusted management companies next month after screening the applying asset management companies. The selected companies will execute investments across the entire AI value chain by forming funds matched with private capital and others.

KDB stated, "We will continue to actively fulfill our role as a representative policy financial institution by supplying venture capital to increase efficiency and productivity across industries through AI innovation in line with government policy directions."