Home > About > LLC LLC is a common structure of VC & PE firms in advanced countries like US. In a fund managed by LLC firm, partners of LLC are fund managers and investors to the fund at the same time. The most good nature of LLC is alignment of interest of fund (investors) and fund managers (partners in LLC). Each partner in LLC is also an investor to the fund, so that fund’s performance is directly linked to personal interest. In Korea, common structure of VC firms is stock corporation and it’s paid-in capital requirement is quite large amount of $7M. In consequence, fund managers in corporation VCs are not major shareholders of their firms. For this reason, conflict of interest is one of major issues for VC industry, or inappropriate influence of shareholders’ is another issue. Another issue in typical Korean VCs is asset allocation among funds. Many VC firms manages multiple funds at a time, so decision making of asset allocation rules and practices are required. But LLC runs just one active fund and is free from asset allocation issue.