<a href="https://www.google.com/preferences/source?q=finance.biggo.com” rel=”nofollow noopener” target=”_blank”>Add to Google Preferred Sources
Korea Venture Investment Corp. (KVIC) has secured its first asset management license allowing it to directly establish and manage funds in Singapore. South Korea’s Ministry of SMEs and Startups announced that KVIC’s Singapore subsidiary received final approval for a Capital Markets Services (CMS) license from the Monetary Authority of Singapore (MAS) on August 20, enabling the establishment of a Variable Capital Company (VCC). This marks the final approval following the local subsidiary’s establishment in April last year and preliminary approval in July. The ministry plans to launch the K-Global Venture Fund in the second half of this year, with a target of scaling up to $300 million by 2030.
Key Elements
Korea Venture Investment Corp. (KVIC), the fund-of-funds management institution under South Korea’s Ministry of SMEs and Startups, has secured an asset management license enabling it to directly establish and manage funds in Singapore. This marks the first time KVIC has obtained a local asset management license overseas since its inception. The approval is expected to accelerate the South Korean government‘s plan to create a $300 million (approximately 410 billion won) offshore global fund-of-funds.
The Ministry of SMEs and Startups announced on August 30 that KVIC’s Singapore subsidiary (KVIC ASIA) received final approval for a Capital Markets Services (CMS) license from the Monetary Authority of Singapore (MAS) on August 20, enabling the establishment of a Variable Capital Company (VCC). A VCC is a Singapore-specific corporate structure for investment funds that allows multiple sub-funds to operate independently under a single legal entity. With this final approval, KVIC’s Singapore subsidiary now has the institutional foundation to directly establish and manage funds as a licensed fund manager in the local market.
The ministry had previously announced plans to create an offshore global fund-of-funds in Singapore—Asia’s financial hub—as part of its “Comprehensive Measures to Leap into a Top-4 Venture Powerhouse” unveiled last year, aimed at supporting the overseas expansion of South Korea’s venture ecosystem. The fund-of-funds is planned to scale up in phases to reach a total of $300 million by 2030.
To this end, the ministry and KVIC established a local subsidiary in Singapore in April last year, followed by local hiring and the build-out of operational systems. After pursuing the MAS fund management license, KVIC received preliminary approval in July and secured final approval approximately one month later.
With this license in hand, the ministry and KVIC plan to move forward with follow-up procedures, including VCC establishment and sub-fund formation, targeting the launch of the “K-Global Venture Fund” in the second half of this year.
Roh Yong-seok, First Vice Minister of SMEs and Startups, said, “Through this final license approval, we will strengthen connections between global investors and South Korean ventures and startups, using Singapore—a global hub for finance and venture investment—as a base, and significantly expand opportunities for domestic venture capital firms to enter overseas markets.” He added, “We will nurture the K-Global Venture Fund as a core platform for Asian venture investment, enabling promising South Korean startups to leap into the global market backed by global capital and networks.”
This license approval also represents the first execution step of a plan officially announced by Minister of SMEs and Startups Han Sung-sook at the Korea-Singapore AI Connect Summit held on March 2, on the occasion of President Lee Jae-myung’s state visit to Singapore. At the time, Minister Han announced plans to establish a $300 million global fund-of-funds (K-VCC) in Singapore by 2030, outlining that the fund would focus investments on promising startups in AI and deep tech across South Korea, Singapore, and the broader Asian region. The ministry has previously operated 19 funds totaling $1.8 billion across the ASEAN region including Singapore, and this K-VCC represents a step forward—an “offshore hub-type fund-of-funds” built on that experience.
| Category | Existing ASEAN Global Funds | New K-Global Venture Fund (K-VCC) |
|---|---|---|
| Operating Region | ASEAN-wide including Singapore | Singapore single hub (offshore fund-of-funds) |
| Cumulative/Target Scale | $1.8 billion, 19 funds | $300 million (phased expansion by 2030) |
| Investment Focus | No sector restrictions | AI and deep tech focused |
| Announcement Occasion | – | March 2026 Korea-Singapore AI Connect Summit |
This approval clears a key gateway in the South Korean government’s offshore fund strategy, designed to attract foreign capital into the domestic venture ecosystem and support the overseas expansion of South Korean venture companies. Singapore is a financial hub densely populated with Asian venture capital firms and global investors, and the ability to directly manage funds locally is expected to significantly enhance overseas investor access to South Korean startups.
With this license approval, the ministry plans to build an overseas investment platform connecting global investors with South Korean ventures and startups, while also leveraging it to support the overseas expansion of domestic venture capital firms. The K-Global Venture Fund, as an offshore fund established in Singapore and the first overseas fund directly managed by a domestic fund-of-funds, is expected to serve as a test case for the international expansion of South Korea’s venture investment industry.
Once added, BigGo Finance appears first in Google Search Top Stories, so you get the broadest, most up-to-the-minute, and most comprehensive global financial news first.
