Teachers' Pension Fund Begins Selection for VC Blind Fund

The Korean Teachers' Pension Fund (KTPF) has officially launched its search for asset managers to oversee its venture capital blind fund, a move signaling a strategic push to bolster the domestic VC ecosystem. The application period, running from May 4th to May 26th, invites qualified firms to submit proposals for managing a fund with a total capital commitment not exceeding 100 billion won, with individual allocations capped at 20 billion won per manager. This initiative underscores the KTPF's commitment to identifying and nurturing promising investment opportunities within South Korea.

The selection process is designed to be rigorous, ensuring that only the most capable firms are chosen. It commences with the submission of proposals by the deadline of May 26th. Following this, a two-stage evaluation will take place: an initial quantitative assessment, followed by on-site due diligence and a qualitative assessment, including presentations (PT). The KTPF aims to comprehensively evaluate the operational capabilities and investment acumen of each applicant, with the final selection of up to five top-tier managers slated for July.

Eligibility criteria are stringent, requiring applicants to have been selected as asset managers by domestic institutional investors, possess a fund formation size of at least 100 billion won, have accumulated over 50 billion won in investments over the past five years, and have at least one core team member with over 10 years of investment experience. Crucially, the firm's main office must be located in South Korea, emphasizing the fund's focus on domestic venture capital.

KTPF Chairman Song Ha-joong expressed his vision for the fund, stating, "We will support the sound growth of the venture investment market by continuously discovering potential investment opportunities and expanding investments in promising fields. Furthermore, we will do our utmost to secure the long-term stability and profitability of the fund." This statement highlights the dual objective of fostering innovation within Korea's tech sector while ensuring robust returns for the pension fund's beneficiaries. The KTPF's investment strategy aligns with national goals to stimulate technological advancement and economic growth through strategic venture capital allocation.