Shinhan Asset Management Holds Formation Ceremony for 763.2 Billion Won "Science and Technology Innovation Fund No. 1"

Shinhan Asset Management announced on the 25th that it successfully concluded the "Science and Technology Innovation Fund No. 1 Formation Ceremony and IR Event," hosted by the Ministry of Science and ICT, held on the 24th at TP Tower in Yeouido, Seoul.

The Science and Technology Innovation Fund is a science and technology-focused fund that aims to raise about 1 trillion won purely through private capital, without direct government investment, in order to concentrate investments in companies operating in the 12 national strategic technology sectors and in technology commercialization.

At the inaugural ceremony for Science and Technology Innovation Fund No. 1, key attendees pose for a commemorative photo. From left: Do Jongwon, Managing Partner at Starset Investment; Kim Changsoo, CEO of Kinggo Investment Partners; Song Hyukjin, CEO of Premier Partners; Lee Seokwon, CEO of Shinhan Asset Management; Jang Minyoung, President of IBK Industrial Bank; Bae Kyunghun, Deputy Prime Minister; Jung Sanghyuk, President of Shinhan Bank; Jung Jinwan, President of Woori Bank; Jeon Jemo, CEO of Helios PE; Kim Myunghwan, CEO of BNH Investment; Yang Junggyu, CEO of Jiyu Investment; Lee Yonggwan, CEO of Bluepoint Partners. Provided by Shinhan Asset Management.

The dedicated banks in charge of managing national R&D funds (Shinhan Bank, Industrial Bank of Korea, and Woori Bank) are creating a master fund totaling 494 billion won over four years, and Shinhan Asset Management is overseeing the management of this master fund. In addition, as a result of the selection process for the manager of the first sub-fund, which was carried out by the end of last year, sub-funds totaling 763.2 billion won across five key focus areas have been successfully formed.

The event was divided into the morning session, the "Science and Technology R&D Innovation Companies IR & Matching Day," which supported smooth fundraising for innovative companies, and the afternoon session, the "Science and Technology Innovation Fund No. 1 Formation Ceremony." During the morning session, there were active investment consultations between more than 20 pre-selected venture companies and seven sub-fund managers, and prior to this, seven venture companies presented their core technologies and growth strategies. The participating venture companies included Mango Boost, Saige, OncoSoft, IntoCore Technology, GQT Korea, Palette, and Portrait.

A total of 20 venture companies, including these seven, then held in-depth investment consultations through one-on-one matching meetings (Meet-Up) between the participating venture companies and the managers selected for Science and Technology Innovation Fund No. 1: Helios PE, Premier Partners, Kingo Investment Partners, BNH Investment, Jiyu Investment, Stasset Investment, Bluepoint Partners, and Korea Science & Technology Holdings.

At the formation ceremony held in the afternoon, Deputy Prime Minister and Minister of Science and ICT Bae Kyunghun, along with the heads of the dedicated banks and the CEOs of the master fund and sub-fund management companies, attended to celebrate the successful establishment of the fund and share future fund management plans.