How did the market respond when KOSDAQ venture funds were first launched?

According to the Financial Services Commission, KOSDAQ venture funds were launched on April 5, 2018, and total sales reached KRW 1.9469 trillion (KRW 523.6 billion public, KRW 1.4233 trillion private) as of April 26 of that year.

At that point, 68 asset managers had launched 148 funds (7 public, 141 private), so private funds made up a large share. The Commission cited expectations of returns from IPO share allocation, an income deduction with no restrictions on who could subscribe, and the KOSDAQ market conditions at the time as reasons for the strong demand.