Does a fund have to meet the investment ratio requirements as soon as it is set up?

No. There is a compliance period before the requirements must be met: under the current Enforcement Decree, private funds have 6 months from establishment and funds that are not private have 9 months.

In October 2018, the Financial Services Commission announced an improvement extending the compliance period for public KOSDAQ venture funds from 6 to 9 months, reflecting industry concerns that a rush of money into new venture shares over a short period could cause supply-demand imbalances and management burdens.