Daol Investment Securities, Following Thai Subsidiary, Plans Sale of Daol Investment

52% Stake Fully Sold... Sale Price Over 200 Billion KRW

[Asia Economy Reporter Choi Seoyoon] Daol Investment & Securities is pursuing the sale of its venture capital (VC) subsidiary Daol Investment (formerly KTB Network).

According to industry sources on the 6th, Daol Investment & Securities is contacting domestic financial companies to gauge interest in the sale of Daol Investment. The condition is to sell all 52% of the shares Daol Investment & Securities holds in Daol Investment. The sale price is reported to be over 200 billion KRW.

Earlier, Daol Investment & Securities sought to secure liquidity by putting its Thai subsidiary 'Daol Thailand' up for sale and also accepted voluntary retirement applications from its employees.

Daol Investment, which celebrates its 40th anniversary this year, is a first-generation domestic venture capital (VC) firm. It was listed on the KOSDAQ market earlier this year and has invested in startups such as Viva Republica (Toss) and Woowa Brothers (Baedal Minjok).