"We must provide liquidity to early-stage companies with growth potential"
Consistent investments have helped companies like Woowa Brothers and Musinsa grow into industry leaders
[Asia Economy Reporter Park Soyeon] Ji Seong-bae, CEO of IMM Investment, emphasized that "the more difficult the market conditions, the more we need to strengthen follow-on investments in existing portfolio companies."
On the 26th, CEO Ji stated, "We will not only seek investment opportunities in fields that require continuous attention such as artificial intelligence (AI), autonomous driving, and biotechnology, but also pay closer attention to helping existing portfolio companies navigate through tough times." Despite the recent sharp contraction in investment sentiment due to interest rate hike forecasts and recession concerns, he stressed that investments should avoid the approach of immediately withdrawing support from early-stage companies with growth potential just because of adverse conditions.
CEO Ji said, "Investors need to share the difficulties faced by companies and work together to find solutions," adding, "The most important thing is to provide liquidity through follow-on investments." Companies like Woowa Brothers (Baedal Minjok), StyleShare, Krafton, and Musinsa, which have received continuous investments, have all grown into industry-leading companies.
Most recently, IMM Investment made a 40 billion KRW investment in Bucketplace, a company operating the interior design platform ‘Today’s House.’ In May, a total of 230 billion KRW in new investments were made in Bucketplace, with the Korea Development Bank investing 100 billion KRW and IMM Investment making the second-largest investment. This is the fourth investment by IMM Investment since their first round in 2016, making it the largest private investment. Bucketplace has grown from an early-stage company without a revenue model to a company with a peak season monthly transaction volume of approximately 180 billion KRW.
Additionally, IMM Investment has consistently invested in the travel platform startup MyRealTrip even during the COVID-19 pandemic. In 2020, when the pandemic was at its peak, MyRealTrip conducted a paid-in capital increase of about 40 billion KRW, with IMM Investment contributing 10 billion KRW. This was their fourth investment. Existing shareholders such as IMM Investment and Altos Ventures reinvested based on their trust in the company and its management. MyRealTrip, which experienced ups and downs due to COVID-19, has recently seen improved performance indicators amid rising expectations for a recovery in the travel industry.
Meanwhile, IMM Investment, a first-generation domestic venture capital firm, was established in 1999 as an alternative investment company. It currently manages assets worth approximately 7 trillion KRW across venture capital (VC), private equity funds (PEF), and infrastructure investment sectors. In the VC sector, it manages about 1.35 trillion KRW across 23 venture funds.
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