Saehan Venture Investment was selected as a general partner (GP) for a culture export fund in Korea Venture Investment's May regular investment program, launching fundraising for a 500 billion won fund. The selection marks the first time the venture capital firm has been chosen as a policy fund GP since its establishment in 1989. Saehan Venture Investment had previously formed venture funds exclusively with private limited partners (LPs), but began challenging policy funds including the mother fund and growth finance this year. The firm will raise 500 billion won with 300 billion won coming from the mother fund.
Saehan Venture Investment Raises 500 Billion Won Culture Export Fund
Saehan Venture Investment was selected as the GP for the culture account export sector in Korea Venture Investment's May regular investment program on the 27th, according to the venture capital industry. The firm entered fundraising for a 500 billion won fund, with 300 billion won to be provided by the mother fund. The fund will invest in the cultural content sector, targeting companies in the cultural industry that generate overseas sales and own or monetize cultural content intellectual property.
Company Operates 4,800 Billion Won AUM with Private LP Focus
Saehan Venture Investment currently operates assets under management (AUM) of approximately 4,800 billion won across about 19 funds. The AUM level is comparable to mid-sized VCs, but policy funds are almost not included. The firm had raised funds primarily from private LPs to form venture funds, earning the nickname "reclusive VC" or "reclusive master" for investing large amounts in startups without pursuing policy funds despite being a first-generation VC.
Portfolio Includes Toss, Baemin, Coupang, and Krafton
The firm is known for its strong track record as an early investor in Toss, Baemin, Coupang, Krafton, Bodyfriend, D&D Pharmatech, and Dunamu. Saehan Venture Investment's path differs from other domestic VCs, having invested substantial capital in startups while not pursuing policy funds despite being a first-generation VC established in 1989.
Recent Investments Target Content Sector Companies
Content is the area Saehan Venture Investment has recently focused on. The firm invested in content companies including The Black Label (a K-pop label to which BLACKPINK's Rosé belongs), TEO (which produced Physical Asia), BeMyfriends (a global fan community builder), and Scatterlab (an AI-based character chat app). The firm's decision to enter the policy fund space with a content-focused fund indicates significant interest in this sector.
Park Yeon-chae Leads Firm After Kiwoom Securities Career
Park Yeon-chae's influence is interpreted as a major factor in Saehan Venture Investment's challenge to policy funds after previously forming funds centered on private LPs. Park, a leading domestic securities research and institutional sales expert, took the helm of Saehan Venture Investment last year. He joined Kiwoom Securities as research center head in 2006 and became known as a rare "long-serving research center head" in the securities industry. Until leaving Kiwoom Securities last year, he oversaw institutional sales and retail operations, and was evaluated as Kiwoom Securities' second-in-command while handling institutional sales including the National Pension Service.
FAQ
What did Saehan Venture Investment do in May?
Saehan Venture Investment was selected as a general partner for a culture export fund in Korea Venture Investment's May regular investment program, marking the first time the firm has been chosen as a policy fund GP since its establishment in 1989.
Why is Saehan Venture Investment called a "reclusive VC"?
The firm earned the nickname "reclusive VC" or "reclusive master" because it invested large amounts in startups without pursuing policy funds despite being a first-generation VC, relying instead on private limited partners to form venture funds.
What companies has Saehan Venture Investment invested in?
Saehan Venture Investment is an early investor in Toss, Baemin, Coupang, Krafton, Bodyfriend, D&D Pharmatech, and Dunamu, and recently invested in content companies including The Black Label, TEO, BeMyfriends, and Scatterlab.
