Enlight Ventures and VL Investment, which have been selected as sub-fund managers for the Nuclear Power Industry Growth Fund managed by Shinhan Asset Management, are on the verge of establishing their funds within this year.
On December 19, Shinhan Asset Management announced that the "Enlight Energy Advanced Industry Venture Fund," managed by Enlight Ventures, held its inaugural general meeting on December 18 and has been established with a total size of 53.5 billion won.
The Nuclear Power Industry Growth Fund will be established with a total size of over 100 billion won in accordance with the plan announced at the 10th Policy Finance Support Council. The fund will focus on investing in small and medium-sized enterprises and mid-sized companies operating in the nuclear power industry, as well as companies related to Small Modular Reactors (SMRs).
Shinhan Asset Management, the main fund manager of the Nuclear Power Industry Growth Fund, selected Enlight Ventures and VL Investment as sub-fund managers in June. Each manager is expected to complete the establishment of a fund of at least 50 billion won within this year.
Cho Sung-ho, Head of Shinhan Asset Management, stated, "With the creation of a policy fund specialized in the nuclear power industry, we expect that investments to strengthen the competitiveness of Korea's nuclear power industry, including SMRs, will begin in earnest."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
