South Korea Selects 18 PE Operators for 5.5 Trillion Won Growth Fund Amid Intense Competition

According to Asia Economy, South Korea completed the selection of 18 private equity operators for its National Growth Fund this year, marking the end of the first and second rounds of fundraising for the policy-backed platform. The fund, designed to channel a total of 200 trillion won over five years into growth sectors, saw 11 operators selected in the first phase managing 3.9 trillion won and 7 in the second phase overseeing 1.6 trillion won.

Competition proved exceptionally fierce, with 81 applicants in the first round achieving an average competition ratio exceeding 7 times, and 65 applicants and consortiums in the second round, highlighting strong industry demand. Operators competed intensely for the anchor investor status the government-backed fund offers, as selection substantially eases subsequent private fundraising by providing policy credibility and track records in advanced technology sectors including AI, semiconductors, and biotech.