WeVentures Named GP of ₩160 Billion Ultra-Long-Term Tech Fund

By Amara Osei

WeVentures will serve as general partner on a ₩160 billion ultra-long-term technology fund, its largest mandate since the firm's founding, BigGo Finance reported.

The South Korean venture firm takes over management of a vehicle built to hold positions far longer than conventional VC funds allow. BigGo Finance didn't disclose the fund's limited partners or its target sectors.

What does the GP role mean here?

As general partner, WeVentures controls deployment decisions for the ₩160 billion pool. That's roughly $110 million at current exchange rates, though BigGo Finance reported the figure only in won. The mandate marks the firm's biggest assignment since it opened its doors.

"Ultra-long-term" signals patient capital — a structure that lets a manager back companies without the standard ten-year fund horizon forcing early exits. BigGo Finance's report didn't specify the fund's actual duration.

Why does the size matter?

The ₩160 billion figure dwarfs WeVentures' previous vehicles, according to BigGo Finance, which called it the firm's largest since founding. For a Seoul-based shop, a mandate of this scale shifts it into a different weight class among Korean tech investors.

The report offers no breakdown of how much capital has closed versus committed. It also leaves open whether WeVentures will co-invest alongside the fund or collect management fees on the full amount.

What comes next?

Expect first deployments to land in Korean tech targets, though BigGo Finance's report stops short of naming sectors or startups. The fund's actual pace will show whether "ultra-long-term" translates into concentrated positions or a broad portfolio spread across the ₩160 billion.