TLDR:
- Korea Investment Partners Co. spent the most on local startups in the first half of the year.
- Smilegate Investment Inc. topped the list of investments in newly established companies.
In the first half of 2024, Korea Investment Partners Co. emerged as the most generous venture capitalist, investing 63.1 billion won ($46.3 million) in domestic startups. This marked the highest spending among venture capitalists in the country. LB Investment Inc. and Company K Partners Ltd. followed closely behind with expenditures of 53.8 billion won and 43.1 billion won, respectively.
On the corporate venture capitalist front, Smilegate Investment Inc. stood out by injecting 21.6 billion won in 15 startups. Kolon Investment Inc. and Hyundai Investment Partners Co. shared the second spot with investments of 16.8 billion won each. Smilegate Investment also topped the list on the number of investments, injecting money into 21 startups, followed by Nvidia’s NVentures, which invested 11.7 billion in Twelve Labs, a generative AI startup.
Despite the sustained funding drought, Korea Investment’s investments shrank by 32.2% in the first quarter compared to the previous year. Aju IB Investment Co., which was the top venture capitalist in the first half of 2023, did not make it to the top 10 list this year. Overall, the article highlights the key players in the venture capital landscape in Korea and their investments in local startups and newly established companies.
