"We will contribute not only to recouping funds through IPOs but also to establishing a foundation for the domestic secondary market," said Life Asset Management CEO Nam Doo-woo.
The inaugural North Haven Growth & Innovation Fund provides flexible capital across primary and secondary transactions, including company-led liquidity solutions.
Coordinated by KOFIA, the initiative aims to support venture exits and recycle capital through direct investments and a joint fund.
The alternative asset manager, which has begun the process of listing in India, is reportedly targeting $131 million for the strategy.
As part of its broader mandate the fund will reportedly serve as a national-level secondary vehicle, acquiring company stakes to provide strategic industries with patient capital.
The firm is eyeing up to $150 million in final commitments to pursue late-stage secondary deals across India and Southeast Asia.
This will be the first of several planned vehicles aimed at advancing secondary market activity, primarily in the Japanese market.
The Seoul-based financial services firm provides brokerage, trading, investment banking, asset management, and advisory services.
RGCM Fund 1, which targets venture-backed company directs, attracted investments from several institutional LPs including Japan Investment Corporation.
The Category II AIF targets pre-IPO and secondary market opportunities in India.
