Korea Post seeks three fund managers for venture capital mandate


Source: asiaasset.com asiaasset.com

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Korea Post has opened a tender for a 600 billion won (US$522 million) venture capital mandate for its insurance unit. The government postal agency is seeking three asset managers for the mandate, which is structured as a blind fund with an investment period of eight years. At least 30% of the fund’s assets must be allocated to digital investments, Korea Post says in its request for proposal on August 9. This is the postal agency’s second venture capital mandate in ten months, underscoring the robustness of the local venture capital market. According to Korean government figures, venture capital fundraising jumped...