"지방 가느니 이직"…공공기관 이전 불똥에 한국벤처투자 '엑소더스' [넘버스]

The talent migration from Korea's Government-backed Venture Fund (모태펀드) to private Fund-of-Funds operators—triggered by regional relocation policies—represents a critical structural shift where accumulated public-sector investment expertise flows into private markets, simultaneously strengthening private operators while weakening policy finance's operational capacity. This institutional brain drain raises fundamental questions about the sustainability and effectiveness of government-led venture capital coordination. Compounding this shift, mandatory venture capital allocation requirements under the Capital Markets Act (rising from 10% to 25% by 2028) are redirecting institutional capital flows toward private FoFs, positioning them as the dominant force in Korea's venture financing ecosystem.