Indicators · Built by Saint Clair from public sources
Indicators of the Korean venture secondary market
Each indicator is a measure Saint Clair constructs from public sources, with a stated method, a fixed release calendar and a dated series.
Latest readings
| Indicator | Latest reading | As of | Next release | Series |
|---|---|---|---|---|
| The Saint Clair Net Supply Index | 111.4 18 Jun 2026 = 100 | 26 Oct 2026 | 4 Dec 2026 | CSV |
| The Saint Clair Secondaries Price Band | 76% of NAV | 19 Oct 2026 | 8 Jan 2027 | CSV |
| The Term Calendar | KRW 11.6tn | 9 Nov 2026 | 4 Dec 2026 | CSV |
| The Extension Count | 4.0 : 1 | 26 Oct 2026 | 8 Jan 2027 | CSV |
| Funds listed past maturity | 201 funds | 9 Nov 2026 | 4 Dec 2026 | CSV |
| Korean direct secondaries | 87% of last round | 22 Sep 2026 | 8 Jan 2027 | CSV |
| The fund exit rate | 4.1% | 2025 | 8 Jan 2027 | CSV |
| The Listing Gap | In build | |||
The Saint Clair Net Supply Index
111.418 Jun 2026 = 100
As of 26 October 2026 · previous reading 108.0, 27 September 2026
KRW 21.4tn committed to funds past or within two years of original term is not covered by Korea’s secondary funds. The index stood at 100 on 18 June 2026 and rises as that sum grows.
- What it measures
- Commitments of Korean venture funds past or within two years of their original term, less the commitments of Korea's secondary funds.
- Unit
- Index, 18 June 2026 = 100
- Source
- DIVA fund register, Korea Venture Capital Association; Saint Clair reading
- Cadence
- Monthly, first Friday
- Next release
- 4 December 2026
- Method
- How the index is built
- Series
- Download the series (CSV)
- How to cite
- Saint Clair, The Saint Clair Net Supply Index, Tesseractic, 26 October 2026.
- Licence
- CC BY 4.0
Table view
| Reading | Index | Not covered, KRW tn |
|---|---|---|
| 18 Jun 2026 | 100.0 | 19.24 |
| 5 Jul 2026 | 100.9 | 19.41 |
| 1 Sep 2026 | 107.7 | 20.73 |
| 27 Sep 2026 | 108.0 | 20.78 |
| 26 Oct 2026 | 111.4 | 21.44 |
The Saint Clair Secondaries Price Band
76%of NAV
As of 19 October 2026
Buyers paid this price for interests in venture funds worldwide between 2020 and mid-2026, as reported by Jefferies.
Korea No published reading on this base yet
- What it measures
- Published prices paid for interests in venture funds, as a percentage of net asset value, the market's convention.
- Unit
- Price of a venture fund interest, % of NAV
- Source
- Jefferies, cited by the Korea Capital Market Institute, 19 October 2026
- Cadence
- Quarterly, and when a reading is published
- Next release
- 8 January 2027
- Method
- The full method note will be published here.
- Series
- Download the series (CSV)
- How to cite
- Saint Clair, The Saint Clair Secondaries Price Band, Tesseractic, 19 October 2026.
- Licence
- CC BY 4.0
Table view
| Reading | % of NAV | Source | Date |
|---|---|---|---|
| Venture fund interests, worldwide, 2020 to mid-2026 | 76 | Jefferies, cited by KCMI | 19 Oct 2026 |
| Korea | – | No published reading on this base yet | |
The Term Calendar
KRW11.6tn
As of 9 November 2026
These commitments of listed funds reach original term in the next twelve months, KRW 5.1tn of them in December 2026.
- What it measures
- Commitments of listed Korean venture funds by month of original term: the earliest maturity date observed since 18 June 2026.
- Unit
- KRW tn of commitments reaching original term
- Source
- DIVA fund register; Saint Clair weekly snapshots
- Cadence
- Monthly, with the index
- Next release
- 4 December 2026
- Method
- The full method note will be published here.
- Series
- Download the series (CSV)
- How to cite
- Saint Clair, The Term Calendar, Tesseractic, 9 November 2026.
- Licence
- CC BY 4.0
Table view
| Month of original term | Funds | KRW tn |
|---|---|---|
| Nov 2026 | 41 | 0.91 |
| Dec 2026 | 134 | 5.05 |
| Jan 2027 | 39 | 0.88 |
| Feb 2027 | 34 | 0.86 |
| Mar 2027 | 37 | 0.96 |
| Apr 2027 | 26 | 0.35 |
| May 2027 | 24 | 0.29 |
| Jun 2027 | 15 | 0.26 |
| Jul 2027 | 28 | 0.90 |
| Aug 2027 | 26 | 0.39 |
| Sep 2027 | 33 | 0.41 |
| Oct 2027 | 22 | 0.37 |
| Nov 2027 | 26 | 0.67 |
| Dec 2027 | 28 | 0.76 |
| Jan 2028 | 15 | 0.33 |
| Feb 2028 | 11 | 0.13 |
| Mar 2028 | 18 | 0.26 |
| Apr 2028 | 15 | 0.29 |
| May 2028 | 26 | 0.41 |
| Jun 2028 | 22 | 0.43 |
| Jul 2028 | 28 | 1.07 |
| Aug 2028 | 28 | 0.86 |
| Sep 2028 | 21 | 0.34 |
| Oct 2028 | 24 | 0.72 |
The Extension Count
4.0 : 1
As of 26 October 2026
Since 18 Jun 2026, 221 funds have extended their term and 55 have left the register.
- What it measures
- Extensions and exits recorded between consecutive snapshots of the register, matched on fund ID, or on name and registration date before 27 September 2026.
- Unit
- Funds extended for every fund that left the register
- Source
- DIVA fund register; Saint Clair weekly snapshots
- Cadence
- Quarterly, with the commentary
- Next release
- 8 January 2027
- Method
- The full method note will be published here.
- Series
- Download the series (CSV)
- How to cite
- Saint Clair, The Extension Count, Tesseractic, 26 October 2026.
- Licence
- CC BY 4.0
Table view
| Observed by | Extended | Left | Cumulative ratio |
|---|---|---|---|
| 5 Jul 2026 | 35 | 13 | 2.69 |
| 1 Sep 2026 | 116 | 31 | 3.43 |
| 27 Sep 2026 | 31 | 11 | 3.31 |
| 26 Oct 2026 | 39 | 0 | 4.02 |
Funds listed past maturity
201funds
As of 9 November 2026
These funds remain on the register past their current maturity date, with KRW 3.6tn in commitments.
- What it measures
- Funds still on the register after their current maturity date: in liquidation, or extended without a new date disclosed yet.
- Unit
- Funds and KRW tn still listed after their current maturity date
- Source
- DIVA fund register; Saint Clair weekly snapshots
- Cadence
- Monthly, with the index
- Next release
- 4 December 2026
- Method
- The full method note will be published here.
- Series
- Download the series (CSV)
- How to cite
- Saint Clair, Funds listed past maturity, Tesseractic, 9 November 2026.
- Licence
- CC BY 4.0
Table view
| Reading | Funds | KRW tn |
|---|---|---|
| 18 Jun 2026 | 160 | 3.20 |
| 5 Jul 2026 | 166 | 3.34 |
| 1 Sep 2026 | 134 | 2.29 |
| 27 Sep 2026 | 149 | 2.64 |
| 1 Oct 2026 | 169 | 2.93 |
| 8 Oct 2026 | 175 | 3.08 |
| 12 Oct 2026 | 181 | 3.28 |
| 19 Oct 2026 | 193 | 3.49 |
| 26 Oct 2026 | 168 | 2.83 |
| 2 Nov 2026 | 179 | 3.11 |
| 3 Nov 2026 | 182 | 3.13 |
| 9 Nov 2026 | 201 | 3.61 |
Korean direct secondaries
87%of last round
As of 22 September 2026
The median price of existing shares in Korean venture-backed companies, against the last round, in seven completed sales.
- What it measures
- Completed sales of existing shares (구주, guju) in Korean venture-backed companies, priced against the last round, as reported in the Korean press.
- Unit
- Price of existing company shares, % of the last round
- Source
- Korean financial press; Saint Clair price register
- Cadence
- Quarterly, and when a trade is reported
- Next release
- 8 January 2027
- Method
- The full method note will be published here.
- Series
- Download the series (CSV)
- How to cite
- Saint Clair, Korean direct secondaries, Tesseractic, 22 September 2026.
- Licence
- CC BY 4.0
Table view
| Sale | Segment | % of last round |
|---|---|---|
| Jul 2025 | Software | 87.1 |
| 2023 | Software | 80.0 |
| Jun 2024 | Not stated | 19.4 |
| 2026 | Software | 180.0 |
| Jul 2025 | Software | 76.8 |
| Jun 2024 | Not stated | 88.0 |
| 2025 | Not stated | 98.0 |
The fund exit rate
4.1%
As of 2025
In 2025, 4.1% of the funds open at the start of the year left the operating stock, half the 8.7% of 2016: funds now stay open longer.
- What it measures
- Opening stock of funds plus new funds less closing stock, as a share of the opening stock.
- Unit
- Funds leaving the operating stock, % of the opening stock
- Source
- VC Market Brief, Korea Venture Capital Association (DIVA)
- Cadence
- Annual, in January
- Next release
- 8 January 2027
- Method
- The full method note will be published here.
- Series
- Download the series (CSV)
- How to cite
- Saint Clair, The fund exit rate, Tesseractic, 2025.
- Licence
- CC BY 4.0
Table view
| Year | % of opening stock | Funds leaving |
|---|---|---|
| 2016 | 8.7 | 46 |
| 2017 | 8.3 | 50 |
| 2018 | 8.1 | 58 |
| 2019 | 6.8 | 55 |
| 2020 | 5.3 | 49 |
| 2021 | 4.7 | 51 |
| 2022 | 5.2 | 74 |
| 2023 | 4.0 | 70 |
| 2024 | 4.2 | 83 |
| 2025 | 4.1 | 89 |
The Listing Gap In build
- What it measures
- For venture-backed companies listed in Korea, the share price against the price of the last round before listing, from IPO prospectuses on DART.
- Unit
- Listed price against the last private round
- Cadence
- Twice a year, once built
- Status
- In build. No series is published yet.
Release calendar
Monthly indicators are released on the first Friday of each month; the quarterly indicators with the January, April, July and October releases.