Teachers' Pension Fund selects 5 managers for domestic VC blind funds

South Korea's Teachers' Pension Fund (사학연금) has chosen five domestic venture capital firms to manage its blind funds. The selected managers are IMM Investment, AJU IB Investment, LB Investment, Woori Venture Partners, and Intervest. This move is part of the fund's strategy to diversify its investments and enhance long-term returns.

The Teachers' Pension Fund intends to allocate up to 100 billion Korean won (approximately $75 million USD) to these five firms. Each selected manager will receive an investment of 20 billion won. The selection process involved a rigorous evaluation, beginning with proposal submissions in early May, followed by a quantitative assessment that narrowed down the candidates to a shortlist of ten.

Further due diligence included on-site inspections of the shortlisted firms. The final qualitative assessment was conducted by the Alternative Investment Committee on July 29, leading to the definitive selection of the five management companies. This detailed process underscores the fund's commitment to selecting high-caliber partners for its venture capital investments.

Song Ha-joong, the Chairman of the Teachers' Pension Fund, expressed his commitment to fostering innovation and the venture ecosystem through collaboration with these skilled managers. He stated, "Through cooperation with excellent management companies, we will support the growth of innovative companies and vitalize the venture ecosystem, and do our best to improve the long-term fund management returns by diversifying the Teachers' Pension Fund's portfolio."