"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.
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.
Avendus Future Leaders Fund III, which is already 30% deployed, has invested ~$15 million in Parag Parikh Financial Advisory Services via secondary.
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.
