이 기사는 2019년 12월 06일 08:00 thebell 에 표출된 기사입니다.

Mirae Asset Venture Investment makes a rare move of participating in a fund created by a foreign venture capital firm, as a limited partner.

Mirae Asset Venture Investment has recently invested in Joy Capital III, a venture capital fund created by China-based Joy Capital. The firm also invested in Joy Capital Opportunity fund in June.

This is the third investment that Mirae Asset Venture Investment makes in funds that are formed by Joy Capital. Mirae Asset Venture Investment first invested in Joy Capital I in 2016 and made two more investments this year. Joy Capital is a venture capital firm, founded by the former managing director of Chinese venture capital firm Legend Capital.

Mirae Asset Venture Investment also invested in the Quest Venture Partners Fund III, which was created early this year by Singapore’s Quest Ventures. Quest Ventures is raising funds in Asia to invest in e-commerce companies.

Normally, venture capital firms attract investors and manage outsourced funds and earn management and performance fee. On the contrary to this, Mirae Asset Venture Investment invests in foreign venture capital funds to act as a limited partner.

Mirae Asset Venture Investment’s latest move is in line with its expansion of foreign investment. As a limited partner, the firm can build strong networks with local investment companies and venture capitalists. It also can directly and indirectly seek promising local start-ups and directly invest in such companies. Mirae Asset Venture Investment has built networks so far with local branches of affiliates as a venture capital arm of Mirae Asset Daewoo.

Mirae Asset Venture Investment has been focusing on overseas markets, investing in more than 60 billion won over the last five years. The firm put four billion won in foreign investment in 2014, 11 billion won in 2015, 7.3 billion won in 2016, 9.1 billion won in 2017 and 21.3 billion won in 2018, respectively. The amount already has exceeded 10 billion won mark this year.

“We are investing in foreign venture capital funds to enhance local networks and improve profitability. Venture capital funds that are specialized in Asian markets are our targets,” said a Mirae Asset Venture Investment official.

(By reporter Lee Yoon-jae)