Led investments for 6 years as a founding member before departure
Sudden resignation sparks increased interest in VC industry
A key investment personnel of DA Value Investment, a venture capital (VC) affiliated with KOSDAQ company Dong-A Eltec, has left the company. As this individual had consistently delivered solid results, there is growing interest in the background of this departure.
According to the investment banking (IB) industry on the 29th, Park Jin-oh, Vice President of DA Value Investment, recently resigned. Park had been overseeing investments as the Chief Investment Officer (CIO). With Park’s departure, the investment team’s headcount has decreased from four, including CEO Cho Sang-gyu, to three.
Park, a graduate of Seoul National University’s Business Administration program, accumulated diverse investment experience at Samsung Life Insurance, KTB Investment & Securities, and KB Investment. He joined DA Value Investment as a founding member in 2017 and led various investments for six years. During his tenure, the assets under management (AUM) surpassed 400 billion KRW.
During his time at DA Value Investment, he invested 244 billion KRW in 78 companies. Among these, he achieved a successful return by recovering 163.9 billion KRW from an initial principal of 76.6 billion KRW invested in 26 companies. The weighted average internal rate of return (IRR) of 12 liquidation funds was also a significant 34%.
Despite such a distinguished career and steady performance, the industry is questioning the reasons behind his departure. A VC industry insider said, “There are reports that he suddenly notified his resignation while on a business trip to the U.S. It appears that the influence of Dong-A Eltec’s owner played a role.”
Park’s future whereabouts are not yet known. However, it is more likely that he will join an existing firm rather than establish his own management company.
DA Value Investment was established in January 2017 with 10 billion KRW in capital fully funded (100% stake) by Dong-A Eltec. It holds a New Technology Business Financial Company (Shingisa) license. The company is led by CEO Cho Sang-gyu, who gained investment experience as the head of the PE team at Kyobo Securities and previously worked at Dong-A Eltec.
The parent company, Dong-A Eltec, manufactures LCD and OLED inspection equipment. It also operates an OLED deposition equipment business through its subsidiary, Sunic System. Dong-A Eltec has ventured into new technology businesses to expand its business areas and secure future growth engines.
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