Korea Venture Investment Corporation, the manager of the mother fund, expanded and reorganized its Fund Management Headquarters.
On Jan. 2, Korea Venture Investment Corporation said it carried out a reorganization to expand the size of the Fund Management Headquarters, the general headquarters overseeing subfund management, including post-management of mother fund subfunds, performance evaluation, and investment contract reviews.
Specifically, Korea Venture Investment Corporation unified management functions that had been dispersed across the Fund Operations Headquarters and reorganized the structure into Fund Management Teams 1, 2, and 3. In particular, it increased the organization's headcount from seven, including the Deputy Minister, to 19.
A Korea Venture Investment Corporation official said, "This is a reorganization to efficiently carry out performance management and risk management for mother fund subfunds," adding, "The number of subfunds that received commitments from the mother fund has exceeded 1,000."
Korea Venture Investment Corporation will also establish an LP Platform Team within Fund Operations Headquarters 1 to promote private capital commitments to venture funds. The LP Platform Team is set to be in charge of sourcing new limited partners (LPs).
The Regional Innovation Headquarters and the Regional Balanced Development Office will be integrated into the Regional Growth Headquarters. The Regional Growth Headquarters will handle tasks such as the formation and operation of the Regional Growth Mother Fund and the overall management of regional offices.
Korea Venture Investment Corporation said the reorganization aims to help the specialized venture investment institution carry out government policy tasks such as creating a 40 trillion won annual venture investment market and expanding mother fund investment resources.
Lee Dae-hee, CEO of Korea Venture Investment Corporation, said, "This is the first step to achieve the new government's policies, including advanced fund management and balanced regional development," adding, "We will do our best to revitalize the venture investment market."
Meanwhile, Korea Venture Investment Corporation is a public institution under the Ministry of SMEs and Startups and was established in 2005. Using mother fund capital of about 11.3 trillion won, it plays a role in supplying venture investment capital to the market.