South Korea's Financial Services Commission has opened the selection process for seven managers of a KRW 880 billion fund that will provide patient capital to early- and mid-stage deep technology companies for up to 16 years. The Growth Fund program will support advanced and foundational technologies requiring long research and commercialization periods, including next-generation semiconductors and advanced biotechnology. Public funding will provide KRW 680 billion, or 77% of the total, comprising KRW 600 billion from the Advanced Strategic Industries Fund and KRW 80 billion from the government budget. Managers must allocate at least 40% of qualifying investments outside artificial intelligence and semiconductors. Selection criteria emphasize technology investment expertise, while eligible qualifying investments are limited to companies that have received specified technology or intellectual property assessments. Accelerators may apply alongside private equity, venture capital and other eligible managers. Manager proposals are due Sept. 3, with final selections expected by October. Investment deployment could begin by year-end.
2026-08-20South Korea Financial Services Commission
South Korea's Financial Services Commission launches KRW 880 billion long-term technology fund manager selection
South Korea's Financial Services Commission has begun selecting seven managers for a KRW 880 billion fund offering advanced technology companies capital for up to 16 years. Public sources will provide 77% of the fund, and at least 40% of qualifying investments must be outside artificial intelligence and semiconductors. Managers are expected to be selected by October, with investment potentially starting by year-end.