Logo of UNIST Technology Holdings. Provided by UNIST

■ Ulsan National Institute of Science and Technology (UNIST) announced on the 26th that its holding company, UNIST Technology Holdings, has completed the registration process as a Venture Capital (VC) company with the Ministry of SMEs and Startups. A venture capital company, under the ‘Act on the Promotion of Venture Investment,’ is defined as a specialized investment institution with at least 2 billion KRW in capital and two or more full-time investment professionals. UNIST Technology Holdings has secured official VC status, enabling it to move beyond its previous role as an accelerator focused on discovering and incubating early-stage startups. It can now conduct professional investment evaluations and make follow-on scale-up investments by forming large-scale funds. Established in 2017 with 100% funding from UNIST, UNIST Technology Holdings was selected last year as the sole manager for the public technology commercialization sector of the government’s Fund-of-Funds, successfully forming a 12 billion KRW fund.