Singapore venture capital firm Vickers Venture Partners is tapping South Korean institutional investors to raise the remaining $200 million needed for its $500 million sixth fund to invest in deep tech startups, The Korea Economic Daily (KED) reported on Tuesday, citing VC industry sources.

Following the first round of fundraising which gained $300 million or 60 percent of the yearly target earlier this year, Vickers Ventures is actively marketing to domestic investors backing overseas venture capital funds, the sources said.  

Vickers Ventures is reportedly said to have submitted an investment proposal to Korea Growth Investment Corp, an independent fund-of-funds management company dedicated to providing risk capital to Korean startups and small businesses. 

Founded in 2005, the VC firm focuses on early-stage investments in Asia and beyond, covering life sciences, technology, media, telecommunications, consumer and financial services. In October 2017 the company raised $230 million for its Fund V to invest in startups globally, with a focus on deep-tech and impact investments in emerging markets, according to Tech in Asia.

(Reporting by Jin-won Lee)