The view of the Saemaul Geumgo Central Association in Gangnam-gu, Seoul. /Courtesy of Saemaul Geumgo Central Association

The Saemaeul Geumgo has selected four venture capital (VC) firms for due diligence in its venture fund investment program.

According to the VC industry on the 20th, the Saemaeul Geumgo Association notified that it selected four VC firms, including DSC Investment, IMM Investment, SV Investment, and Intervest, as due diligence targets the previous day.

The Saemaeul Geumgo Association plans to select the final entrusted management company (GP) after conducting due diligence and a review by an internal committee, expecting that all four firms will qualify as GPs unless there are disqualifying factors.

This investment program has attracted attention as the Saemaeul Geumgo Association's first venture fund investment program targeting VCs. A total of 60 billion won has been allocated.

Previously, Shinhan Venture Investment, HB Investment, Wooree Venture Partners, and Premier Partners were also included in the shortlist (qualified candidates), but they did not make it to the due diligence targets.