Korea's foreign VC investment fund breaks W1tr mark

[THE INVESTOR] Foreign VC Investment Fund has attracted more than 1 trillion won (US$881.87 million), the Small and Medium Business Administration announced on July 27.

Foreign VC Investment Fund is fund operated by foreign venture firms that invests a set proportion in South Korean companies. 

The fund was first established in 2013, and about 930 billion won was gathered through 11 foreign venture capital firms. With four venture capital firms being added to the list in the first half of the year, the figure rose to 1.037 trillion won.

So far, about 162.3 billion won has been invested in local venture companies and SMEs, the SMBA said.

By Choi He-suk (cheesuk@heraldcorp.com)