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Title Daesung Private Equity, Inc. Establishes ‘Daesung Secondary Fund Association’ 2014.10.23

FROM: Daesung Group

Daesung Private Equity, Inc.

Establishes ‘Daesung Secondary Fund Association’



[October 23, 2014] – Daesung Private Equity announced the establishment of the ‘Daesung Secondary Fund Association,’ a fund which invests in the outstanding shares of SMEs that are owned by venture capital firms. The fund’s initial capitalization is 25 billion KRW with a six-year term. The fund members consist of eight companies including Daesung Private Equity as the operating partner, Korea Finance Corporation as a limited partner and other Korean Fund-of Funds.


Daesung Secondary Fund aims to vitalize the exit market with the profit it earns from buying shares of SMEs that have already been invested in by other managing funds. The investment targets are outstanding stocks or bonds of SMEs owned by venture capital firms and venture investment funds. In May, Daesung Private Equity was chosen by the Korean Finance Corporation as external manager. The company will be contributing to the vitalization of the intermediate exit capital market and building foundation for SMEs and venture businesses to succeed.


Kim Wan-sik, the director of Daesung Secondary Fund, said “I feel great honor and responsibility to be in charge of the newly established Daesung Secondary Fund. With my experience and the successful results from secondary investments in the past, we will strive to meet the expectations of fund members with meaningful returns. As exceptional industry network is key to exit market vitalization and we plan to maintain and enhance close relationships with industry representatives.”


Daesung Private Equity, a major subsidiary of Daesung Group, manages a total of 12 funds, including the newly established secondary fund. With over 26 years of investment experience ranging from venture start-ups to cultural contents, it established the ‘Research and Development Zone for Job Creation Fund’ worth of 125 billion KRW in 2012, and the ‘IBK-Daesung Contents Small Giant Fund’ worth 20 billion won in 2013.


Daesung Private Equity is also a rising player in the IPO market through its consecutive successful listings of companies from various sectors. In 2013, the company led the public offering of Access Bio Inc., an industry leader in the production of malaria test kits, as well as ACT, the manufacturer of key ingredients for highly functional cosmetic products. In 2014, Daesung Private Equity took Ajinetk, a chip manufacturer specializing in motion controllers, to KOSDAQ from KONEX and also helped Daum-Kakao go public, which recorded a No.1 market capitalization. Early next year, another KOSDAQ listing is scheduled for TEGO Science, a biotech company which successfully introduced skin cell therapy products to the Korean market. Experts predict that Daesung Private Equity will enjoy a steady run of profit in the future as many other private companies are waiting to launch their IPOs under its management.




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