Shinhan Asset Management said on the 19th that the subfund managers of the Nuclear Power Industry Growth Fund it manages on consignment will complete fund formations within the year.
The Nuclear Power Industry Growth Fund will be created at a total size of more than 100 billion won under the fund-creation plan for the Nuclear Power Industry Growth Fund announced at the 10th Policy Finance Support Council in Mar. this year. Policy funds of 70 billion won and private funds of 30 billion won will be injected, with a focus on investing in small and midsize corporations and mid-tier corporations engaged in the nuclear power industry and in corporations related to small modular reactors (SMRs).
Shinhan Asset Management, the parent fund manager of the Nuclear Power Industry Growth Fund, selected in June this year InLight Ventures and VL Investment as subfund managers. Each manager plans to complete fund formation within the year at a size of at least 50 billion won.
Among them, the "InLight Energy Advanced Industry Venture Fund," managed by InLight Ventures, held its formation general meeting on the 18th and was first to complete formation at a total size of 53.5 billion won.
Cho Sung-ho, Deputy Minister at Shinhan Asset Management, said, "With the creation of a policy fund specialized in the nuclear power industry as a turning point, we expect investment to gain full momentum to strengthen the competitiveness of Korea's nuclear power industry, including SMRs."