Key Takeaways
- • South Korea's Financial Services Commission and Korea Development Bank named seven managers on October 14, 2026 for an 880 billion won (about US$650 million) ultra-long-term technology investment fund.
- • Three managers were selected for the small-fund category: G&Tech Venture Investment, Hanwha Investment & Securities, and a co-general partnership of Timefolio Asset Management and Timefolio Capital.
- • Four mid-sized managers were chosen: Smilegate Investment, We Ventures, Kolon Investment and Quantum Ventures Korea.
- • The fund is designed to provide up to 16 years of long-term capital to advanced and foundational technology companies, with at least 40% of principal investments required outside artificial intelligence and semiconductors.
- • Fundraising and fund formation are expected to be completed by December 2026, with investment potentially starting before year-end; managers will be selected annually under the National Growth Fund's indirect investment strategy.
Summary
South Korea has selected seven asset managers for an 880 billion won (US$650 million) ultra-long-term technology investment fund, according to a press release issued on October 14 by the Financial Services Commission (FSC) and Korea Development Bank (KDB). The fund could begin investing by year-end.
The selection comprises three managers in the small-fund category and four in the mid-sized category. In the small-fund category, the chosen managers are G&Tech Venture Investment, Hanwha Investment & Securities, and a co-general partnership between Timefolio Asset Management and Timefolio Capital. The mid-sized category includes Smilegate Investment, We Ventures, Kolon Investment and Quantum Ventures Korea.
The programme targets a total fund size of 880 billion won in 2026. Of that amount, 600 billion won will come from KDB's Advanced Strategic Industry Fund and 80 billion won from government budget resources. The vehicle is designed to provide long-term capital to advanced and foundational technology companies over a horizon of up to 16 years. At least 40% of principal investments must be directed to sectors outside artificial intelligence and semiconductors, a constraint that signals an intent to broaden the fund's sector exposure beyond the country's dominant chip and AI industries.
The seven managers are expected to complete fundraising and fund formation by December 2026. The programme plans to select managers annually as part of the National Growth Fund's indirect investment strategy, meaning this initial round is the first of a recurring selection process.
The selection comprises three managers in the small-fund category and four in the mid-sized category. In the small-fund category, the chosen managers are G&Tech Venture Investment, Hanwha Investment & Securities, and a co-general partnership between Timefolio Asset Management and Timefolio Capital. The mid-sized category includes Smilegate Investment, We Ventures, Kolon Investment and Quantum Ventures Korea.
The programme targets a total fund size of 880 billion won in 2026. Of that amount, 600 billion won will come from KDB's Advanced Strategic Industry Fund and 80 billion won from government budget resources. The vehicle is designed to provide long-term capital to advanced and foundational technology companies over a horizon of up to 16 years. At least 40% of principal investments must be directed to sectors outside artificial intelligence and semiconductors, a constraint that signals an intent to broaden the fund's sector exposure beyond the country's dominant chip and AI industries.
The seven managers are expected to complete fundraising and fund formation by December 2026. The programme plans to select managers annually as part of the National Growth Fund's indirect investment strategy, meaning this initial round is the first of a recurring selection process.
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