Mumbai, June 30 -- About a week ago, Korea Venture Investment Corporation (KVIC) and other stakeholders in their government met with at least five Indian venture capital funds in Bengaluru to understand the market's depth and opportunities as it looks to deepen its presence in the country.

The funds were Exfinity Venture Partners, 3one4 Capital, Speciale Invest, Iron Pillar and Trident Growth Partners, people familiar with the matter said. Korea's IMM Investment Corp was part of the conversations.

KVIC is looking to tie up with funds under its Foreign VC Global Fund, which has $100 million to invest exclusively in offshore venture capital funds. However, KVIC's commitment is qualified-Indian VC funds must invest at least an equivalent a...