KIP secures 5 bln won from K-Growth The Korean VC firm will use the capital to invest in secondary battery companies
Translated by Ryu Ho-joung 공개 2020-05-14 08:00:46
이 기사는 2020년 05월 14일 08:00 thebell 에 표출된 기사입니다.
Korea Investment Partners (KIP) has been selected to receive capital commitment from Korea Growth Investment Corp. (K-Growth), the state fund of funds, for its project fund.KIP are currently raising capital to invest in secondary battery technology, with a target fundraising goal of 50 billion won. The venture capital firm plans to gather 10 billion won for its fund dedicated to investment opportunities in secondary battery companies, with the remaining 40 billion won expected to be raised for a separate vehicle in a partnership with its peer.
K-Growth will commit five billion won to the VC firm’s 10 billion won fund, which is expected to be ready to deploy capital soon.
K-Growth announced in January a plan to select external managers to allocate money earmarked for investment in the materials, parts and equipment sectors in the country. The program was divided into two categories: blind-pool funds and project funds. The state fund of funds, in a partnership with Korean Development Bank (KDB), set aside total 120 billion won for commitments to blind-pool funds, with up to 100 billion won earmarked by K-Growth to allocate to funds dedicated in the three sectors.
For allocation to blind-pool funds, two managers – a consortium of SKS Private Equity and Korea Investment Private Equity and a consortium of BNW Investment and Industrial Bank of Korea – were selected among nine applicants through an open competition in February.
Meanwhile, for project funds, K-Growth will accept proposals until its allocation of all 100 billion won is completed. Each proposal is to be considered individually.
Prior to KIP, WJ Private Equity received a commitment from K-Growth earlier this year for its 37 billion won project fund, which invested in Yulkok, the country's largest aerospace and defense spare part supplier.
“Investors’ interest in the materials, parts and equipment sectors is growing,” an industry insider said. “More private equity and venture capital firms appear to submit proposals to K-Growth to launch a project fund investing in these sectors.”
(By reporter Kim Byung-yoon)
< 저작권자 ⓒ 자본시장 미디어 'thebell', 무단 전재, 재배포 및 AI학습 이용 금지 >
관련기사
best clicks
최신뉴스 in 전체기사
-
- 우리금융 "롯데손보 M&A, 과도한 가격 부담 안한다"
- 신한캐피탈, 지속성장 포트폴리오 리밸런싱 체계 강화
- 하나금융, ELS 악재에도 실적 선방…확고한 수익 기반
- 하나금융, 자본비율 하락에도 주주환원 강화 의지
- 국민연금, '역대 최대 1.5조' 출자사업 닻 올렸다
- [도전 직면한 하이브 멀티레이블]하이브, 강한 자율성 보장 '양날의 검' 됐나
- [퍼포먼스&스톡]꺾여버린 기세에…포스코홀딩스, '자사주 소각' 카드 재소환
- [퍼포먼스&스톡]LG엔솔 예견된 실적·주가 하락, 비용 절감 '집중'
- [퍼포먼스&스톡]포스코인터, 컨센서스 웃돌았지만 주가는 '주춤'
- 신한금융, ‘리딩금융’ 재탈환에 주주환원 강화 자신감