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Biz News Korea(Eng)
Korean venture capital funds hit record high in H1
- Collected
- 2016.07.26
- Distributed
- 2016.07.27
- Source
- Go Direct
According to data released by Korea’s Small and Medium Business Administration on Monday, venture capital funds in the January to June period this year surged 169.9 percent on year to amount to 1.7 trillion won ($1.5 billion), the highest since the data has been kept record from 1998. The number of funds also rose 78.1 percent from 32 to 57 over the same period.
Engagement of private investors led to the spike. Venture funds pledged by non-public institutions surged from 369.8 billion won to 1.0792 trillion won in the first half this year from the same period in 2015 due to various tax incentives. State institutional investors such as Korea Development Bank (KDB) and Korea Telecommunications Operation Association’s Korea IT Fund invested 176 billion won and 80.5 billion won, respectively.
But actual investment in the venture sector declined 4.5 percent from 993.9 billion won to 948.8 billion won over the cited period. The share of investment in startups of seven years or less increased from 27 percent to 39.6 percent on year, suggesting interest in fledging enterprises.
By Chung Soon-woo
[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]