Smilegate Investment Publishes 2022 Investment Report Reflecting ESG Values

83 Investment Destinations Last Year
25% Are Companies Excelling in Environmental and Social Values

[Asia Economy Reporter Kwangho Lee] Smilegate Investment announced on the 9th that it has published the ‘2022 Impact Report (hereafter Report)’ summarizing its annual investment activities and ESG best practices in 2022. This is the second report since the first Impact Report was introduced last year with the purpose of identifying the social value created by investments and expanding their influence.

Despite the tightening of the capital market due to high interest rates and the contraction of investment sentiment, the report includes Smilegate Investment’s 2022 annual activities such as investments and fundraising that remained resilient. In 2022, the total number of invested companies was 83, an increase of more than 10% compared to the previous year. Among them, 54 companies were early-stage startups with less than two years of operation, accounting for more than half of the total early-stage investment proportion.

As a result of measuring the ‘impact level’ that can have a positive effect on the environment and society for the invested companies, 21 companies, about 25% of the total, showed a very high level. Among the main impact indicators, services that help ‘efficient management of resources’ accounted for a large proportion. This is analyzed as an area where the company will focus on expanding investments in the future, aligned with the movement to minimize negative environmental impacts across all industries.

It is also noteworthy that eight venture funds were established last year, newly securing a total of 144 billion KRW in investment resources. In particular, the company plans to start full-scale investment with the ‘IBK-Smilegate ESG Fund No.1,’ which was created by winning the first ESG account of the Korea Fund of Funds. Smilegate Holdings, the holding company of Smilegate Group, also participated as a major investor in this fund, which is expected to create synergy in discovering and nurturing entrepreneurs who create a better world for future generations.

Nam Gi-moon, CEO of Smilegate Investment, said, “Since declaring 2021 as the first year of impact, we have been actively communicating externally by publishing reports every year.” He added, “As a VC investing in sustainable growth, we will continue to support startups with business models that contribute to solving social problems and capabilities to cope with various crises, and share their achievements.”