S Korea’s KVIC commits $23m to AC Ventures, Gobi Partners, Highlight Capital

South Korean government-backed fund-of-funds manager Korea Venture Investment Corporation (KVIC) has approved a capital commitment of $23 million for three funds in Asia, according to a disclosure.

KVIC committed $6.5 million each to the vehicles of Jakarta-based early-stage investor AC Ventures, pan-Asian venture capital firm Gobi Partners and $10 million to China-based healthcare-focused investment firm Highlight Capital.

AC Ventures has a minimum target corpus of $16.3 million while Gobi Partners and Highlight Capital are seeking to raise a minimum of $39 million and $200 million for their funds respectively, according to the disclosure.

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