Korea Post is seeking to hire up to three asset managers for a 60 billion won (US$41 million) domestic venture capital fund mandate for its insurance unit.
The blind fund, which will have a five-year investment period, will primarily invest in domestic startups, small and medium enterprises, and high-tech innovators, according to the government postal agency’s request for proposal on July 30.
No selection criteria were specified.
Applications close on August 13 and the winning bidders will be appointed by the end of the year.
Korea Post has around 150 trillion won of assets under management.
