The National Pension Service (NPS) of South Korea said on Nov. 9 it has selected the venture capital firms that will entrust the pension fund’s 150 billion won ($127.2 million). Four Seoul-headquartered venture capital companies, SL Investment Co., DSC Investment Inc., Stonebridge Ventures Inc. and Mirae Asset Venture Investment Co., have been chosen.
NPS will commit 30 billion to 60 billion won to each venture capital firm, investing 40% or less of each venture fund's commitment. The newly-created venture funds will have a combined worth of 400 billion won. Each VC will also invest at least 2% of the total commitment of each venture fund, of which maturity and the investment period are eight and four years, respectively.