Yuon Investment X Hanwha Securities, Series B Investment in Yeolmae Company

- Yuon Investment Leads Series B New Investment Jointly with Hanwha Investment & Securities
- Yeolmae Company Accelerates Growth Based on Series B Funding... Aiming for IPO Next Year

[Meeting scene of Yuon Investment / Provided by Yuon Investment]

Yuon Investment announced that it has completed an investment in Yeolmae Company, which operates the online art co-purchasing platform ‘Art & Guide’ together with Hanwha Securities.

Founded in 2016, Yeolmae Company is the leading domestic art co-purchasing platform in South Korea based on cumulative co-purchase amount. Following its successful Series A funding round of 9.2 billion KRW last year, the company secured 17 billion KRW in Series B funding, with a valuation of approximately 100 billion KRW.

Based on the Series B investment, Yeolmae Company plans to expand art co-purchasing to achieve revenue growth, and acquire Buzz Art, which holds intellectual property (IP) rights of artworks by emerging artists, to enter the digital asset market including NFTs. Through this, the company aims to enhance its business model and accelerate performance growth, targeting an initial public offering (IPO) in the first half of 2023.

Private equity firm Yuon Investment formed the project fund ‘Hanwha-Yuon Investment Association No. 2’ as a Co-GP (Co-General Partner) with Hanwha Investment & Securities to invest in Yeolmae Company’s Series B round, also attracting strategic investors such as Lotte Rental. Existing investors from Series A, including SoftBank Ventures, Base Investment, and Korea Development Bank Capital, participated in this round, with Yuon Investment leading the new investment.

Meanwhile, the collaboration between Yuon Investment and Hanwha Investment & Securities as Co-GPs is their second, following last year’s investment in ‘PayLetter.’ PayLetter is a fintech company providing global billing/payment solutions for platforms such as games and Weverse. PayLetter is preparing for an IPO this year, including preliminary review procedures.

Yuon Investment is a private equity firm founded by CEO Lee Jung, who worked as an analyst at major domestic securities firms for 17 years. The firm is characterized by its core team members being former top analysts from leading securities companies. It is recognized for its strengths in growth capital investment based on deep industry analysis capabilities and a broad network spanning both the field and financial markets. Additionally, it has competitiveness in consulting related to M&A, governance restructuring, and new business entry.

Yuon Investment’s portfolio includes ‘VigenCell,’ invested in 2019, which went public last year, achieving an IRR of 23%. With PayLetter and Yeolmae Company expected to go public this year and next, the firm anticipates successful investment returns.