Shinhan Investment & Securities said on the 23rd that, together with Flux Ventures, it was finally selected as a delegated management company for the Korea Venture Investment Corporation-led "2025 Chungnam corporate growth venture fund" commitment program.
The Chungnam corporate growth venture fund is a regional mother fund created by attracting private capital, which will form sub-funds based on the committed capital and invest in corporations in the province.
Shinhan Investment & Securities and Flux Ventures will form the fund as co-general partners (Co-GP) to discover and nurture innovative corporations in advanced strategic industries based in South Chungcheong Province, such as semiconductors, artificial intelligence, and bio.
The fund will focus investments on the 12 national strategic technologies and carbon neutrality. It plans to supply capital to corporations across various life-cycle stages from early to late within the three strategic pillars of materials, parts, and equipment; artificial intelligence; carbon neutrality, health, and security; and next-generation convergence industries.
Shinhan Investment & Securities also plans to provide integrated solutions that combine Shinhan Financial Group's network and investment banking capabilities.
Flux Ventures is a venture capital (VC) firm strong in discovering and investing in technology-based startups, and it is expected to generate synergy by combining with Shinhan Investment & Securities' network.
A Shinhan Investment & Securities official said, "Through the management of this fund, we will faithfully play a priming role so that promising corporations in Chungnam can grow into corporations with competitiveness."
Meanwhile, in Dec. last year, Shinhan Investment & Securities obtained authorization from financial authorities as a new issuer of short-term notes. Based on the strengthened funding capability through the issuance authorization, it is expanding the supply of venture capital.