Searching for Potential Candidates Since Last Year
Deal Expected to Close as Early as This Month
[Asia Economy Reporter Kwangho Lee] Venture capital (VC) Wiseletter Investment is up for sale. Although it made a name for itself as a newly established startup investment company, it is expected to change ownership within a few years.
According to the investment banking (IB) industry on the 20th, Wiseletter Investment is pursuing a sale. It has inquired about the intention to sell to potential candidates. Recently, a preferred negotiator was selected. The main contract for the sale is planned to be signed as early as the end of this month or early next month.
An IB industry official said, “Market interest in Wiseletter Investment is high,” adding, “The valuation is around 5 billion KRW, and by investing 2.5 billion KRW, one can acquire about 50% of the management rights.”
Wiseletter Investment is a venture capital firm established in 2020 by Payletter, which invested 2 billion KRW to found the startup investment company. Payletter shareholders currently hold some shares of Wiseletter Investment.
Founded in 2001, Payletter operates billing (payment and settlement solutions) and electronic payment agency services. It provides a corporate-customized billing solution service called ‘BillOneQ,’ which enables cash charging, payment cancellation and refund management, and coupon management. Its clients include League of Legends, AfreecaTV, Lezhin Comics, and Sandbox Network.
The current head of Wiseletter Investment is CEO Haemin Song, formerly of Yuanta Investment. He graduated from Yonsei University’s Department of Chemical and Biological Engineering and earned a master’s degree in pharmacy from Sungkyunkwan University. He mainly handles bio investments.
Funds managed by Wiseletter Investment include ▲Wise Bio Unicorn Investment Association ▲Wise Bioletter Fund No. 1 ▲Wise Bioletter Fund No. 2 ▲Wise Unicorn Fund ▲Wise Bio Scale-up Investment Association ▲Wise Media Commerce Investment Association ▲Wise Next Innovator Fund.
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