How do business development collective investment vehicles (BDCs) differ from KOSDAQ venture funds?

According to Financial Services Commission materials, KOSDAQ venture funds invest at least 50% of fund assets in shares, CBs and the like of venture companies (including listed ventures) or KOSDAQ small, medium and mid-sized companies within 7 years of losing venture status, and receive an income deduction and priority allocation of KOSDAQ IPO shares as incentives.

BDCs are public funds that invest at least 60% of total assets in venture and KONEX companies, KOSDAQ companies with small market capitalizations, stakes in venture funds and the like, and are listed on the exchange so that general investors can buy and sell them. Another difference is that a BDC is a listed public fund, whereas a KOSDAQ venture fund can be set up either publicly or privately.