Korea Securities Depository (KSD) said on the 20th that POSCO Technology Investment, a large venture capital management firm, joined Venturenet this month and has officially begun operations.
According to the depository, POSCO Technology Investment, as a corporate venture capital (CVC), is a top-tier investment specialist with 1 trillion won in assets under management. POSCO Technology Investment participated in the Venturenet operating system after about eight months of linked testing starting in March this year with an ERP company (IB Center) and a custodian bank (NongHyup).
To improve the lagging back office of the venture investment market, the depository built the Venturenet venture investment IT platform and began service in 2021. Venturenet is an automation and standardization system for the venture investment market back office, consisting of ▲ fund management support services for investment associations and ▲ investor information management support services for venture corporations.
However, even though four years have passed since Venturenet launched its services, participation has been quite sluggish.
A depository official said, "It appears to stem from factors such as a tendency to hold investment assets for the long term, resulting in few management instructions and little perceived need to change work methods, and, given the characteristics of the venture capital industry, a reluctance to expose information on venture capital to the outside."
The depository expected that POSCO Technology Investment's participation in Venturenet will be an important turning point for establishing the platform as the industry's representative standard infrastructure.
It projected that, with this addition, computerization of operations and a data-based management framework within the venture investment market will be further strengthened.
A depository official said, "Korea Securities Depository (KSD) will do its utmost to provide stable service and ensure service quality so that the Venturenet system takes root in the industry through continued cooperation with the venture investment sector."