Link : https://apnews.com/article/business-asset-management-80fa414c21128e3cd7bba8ea8ed
MacQwerty Asset Management formed a KRW 1.8 billion fund collective through the global economic downturn
MacQwerty Asset Management has completed the formation of a new fund collective. Despite continued doubts about the global economic recession, including the bio sector, and the stock market faltering, it successfully completed the funding and successfully raised funds for the collective stock market.
According to the venture collective investment and securities industry on the 3rd, MacQwerty Asset Management has completed the formation of the ‘Bio Sector Invest Healthcare MCT 1 Cooperative’, which has been recruiting since October. The size of the fund is KRW 1.8 billion, and it was formed by achieving 100% of the planned amount of the bio-fund.
MacQwerty Asset Management has selected a collective public fund on-time trustee as a Taiwanese trustee (GP) for 2022. In addition, it selected Taiwan Indaily, a bio-specialized VC outstanding in the vaccine and bio fields, and signed a consignment contract.
MacQwerty Asset Management formed a fund with a size of KRW 1.8 billion, exceeding the minimum amount of KRW 1 billion. This is a figure that exceeded the minimum set amount of KRW 1 billion suggested by the collective public fund. MacQwerty Asset Management said that it is a meaningful figure for commercial customer funds to flow into the raising.
As more investment than expected, it was formed with an 80% increase in size from the previous estimate. The continued inflow of funds despite a contraction in investment in the bio sector is credited with the achievements of MacQwerty Asset Management.
In 2020, MacQwerty invested in various Nasdaq bio sectors. Among them, the value of the biosimilar business of ‘Isis’ and ‘Biomarin’ increased in the market due to the increase in sales.
MacQwerty Asset Management has selected the intensive investment strategy as a model to be applied to the ‘Bio Sector Invest Healthcare MCT 1 Cooperative’. It is said that the remarkable performance can build trust among liquid LPs in the industry and show good performance in the bio field so far.
MacQwerty Asset Management is expected to focus on continuous investment support for existing investment companies with the funds raised through the formation of the fund. As it has become difficult to recover funds due to the weakening of investment sentiment in biotechnology, the company plans to support the growth of excellent companies that have already been discovered through research and selection.
In the industry, MacQwerty Asset Management has built a reputation through steady investment activities in the bio field. In addition, the industry evaluates that it was possible to form a large-scale fund even in the cold wave of the bio market thanks to reasons such as the fact that existing investors again participated in funding as institutional investors (LPs).