<article>The insurance arm of Korea Post is looking to commit $50 million to US-based Adams Street Partners&#8217; venture fund, marking its first global VC investment, according to a <a href="http://www.koreaninvestors.com/?p=5603">report</a> by Korean Investors.</article>

The insurance arm of Korea Post is looking to commit $50 million to US-based Adams Street Partners&#8217; venture fund, marking its first global VC investment, according to a <a href="http://www.koreaninvestors.com/?p=5603">report</a> by Korean Investors.
The report said Adams Street Partners will either manage the capital through a fund-of-funds (FoF) structure or a separately managed account. The total commitment amount may vary depending on the performance of the fund manager.
Korean Investors said that the $112-billion Korea Post intends to invest more than half of its commitments in FoFs, while the rest will be direct investments into growth-stage venture capital firms.
Based on the report, the target net internal rate of return is 10 per cent or above for a four-year investment period, with North America and early-stage startups accounting for at least 50 per cent of the portfolio.
In October, Adams Street raised $426 million for its Venture Innovation Fund II, which focuses primarily on early-stage venture fund managers across the world.
Partners of the firm, Brijesh Jeevarathnam and Yar-Ping Soo, had <a href="https://www.dealstreetasia.com/stories/adams-street-to-back-early-stage-vc-managers-in-china-india-112281/">earlier told DEALSTREETASIA</a> that the $426-million venture fund will look to back fund managers from China and India as it seeks to increase deployments outside the US.
Founded in 1972 and based in Chicago, Adams Street has over $35 billion of assets under management across five strategies &#8211; primary and secondary private fund investments, co-investments, private credit investments, and direct growth equity investments. It opened an office in Seoul, Korea, in December 2017.
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Adams Street Partners will reportedly either manage the capital through a fund-of-funds (FoF) structure or a separately managed account.

Korea Post arm to commit $50m to Adams Street's VC fund: Report

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Korea Post arm to commit $50m to Adams Street's VC fund: Report

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