Korea VC Association Announces 2025 Self-Regulation Assessment Results... Strong Performance by Small and Mid-Sized Firms

The Korea Venture Capital Association (VC Association) announced the results of the "2025 VC Self-Regulation Program" assessment on January 28. The program was implemented to enhance the soundness of the venture investment market and establish a self-regulatory framework centered on the private sector.

First introduced in the second half of last year, this assessment was designed to enable the VC industry to strengthen internal controls and governance on its own initiative, thereby building market trust.

The evaluation was based on five categories and sixteen indicators, including the introduction and operation of self-regulation, compliance officer system operation, and internal controls and conflict of interest prevention. The final results were determined through a rigorous process that included document review, on-site inspections, and a grading committee comprised of internal and external experts.

This year's assessment highlighted the strong performance of small and mid-sized VCs. The highest S grade was awarded to IM Investment Partners and Xquared. Despite being relatively small in scale, these firms received high marks for their management's strong commitment to compliance and their efficient internal control systems. In December of last year, these VCs were also recognized with a commendation from the Minister of SMEs and Startups for the same achievements.

A VC Association representative stated, "The results of this assessment show that the self-regulation program focuses more on the actual operation of internal control systems and the ethical commitment of management, rather than the external size of the company," adding, "This will serve as an opportunity to encourage greater participation in self-regulation among small and mid-sized VCs going forward."

The VC Association plans to expand incentives for participating companies. According to the first round of this year's regular fund-of-funds investment program announced on January 23, management firms that receive an excellent grade (A or higher) in the self-regulation assessment will receive additional points in the selection process for delegated management firms. The VC Association will also continue discussions with other fund providers beyond the fund-of-funds to ensure that participation in self-regulation becomes a key indicator for enhancing external credibility and fund formation competitiveness for VCs.

For the 2026 assessment, the VC Association will gather industry feedback and hold an operational briefing session in the first quarter of this year to provide guidance on evaluation indicators and guidelines. In September, the Association will officially announce the program and begin recruiting participating companies.

Hakgyun Kim, Chairman of the VC Association, said, "For the qualitative growth of the venture investment market, voluntary self-discipline by market participants is essential," adding, "We hope that more VCs will participate in the self-regulation program this year and work together to build a trusted investment ecosystem."

The following are the 20 companies that received an A grade or higher in this assessment.

▲S grade: Mirae Asset Venture Investment, Shinhan Venture Investment, IM Investment Partners, SBI Investment, Xquared

▲A+ grade: DSC Investment, BonAngels Venture Partners, L&S Venture Capital, Enlight Ventures, Commes Investment, Quantum Ventures Korea, Premier Partners

▲A grade: Donghoon Investment, ID Ventures, Wonik Investment Partners, Woori Venture Partners, KT Investment, Kiwoom Investment, Tony Investment, TS Investment