300 Billion KRW Blind Fund Considering Multi-Closing
Park Jeong-in, Executive Director of Investment Division 1, as Lead Fund Manager
Past Influence of Neoplux and India Trip
Smilegate's venture capital (VC) affiliate, Smilegate Investment, is forming an overseas-dedicated blind fund. Amid an overall contraction in investment sentiment, it is expected to seek new opportunities through overseas investments.
According to the investment banking (IB) industry on the 1st, Smilegate Investment is in the process of forming a global fund worth 30 billion KRW. This fund is planned to be raised with the support of the Smilegate Group without policy institution funds such as the Korea Venture Investment's mother fund.
The lead fund manager will be Executive Director Park Jeong-in from Investment Division 1. Director Park is recognized as an analyst with diverse investment experience, having worked at Solidus Investment and M-Venture Investment. He has shown outstanding performance in information technology (IT), bio, and healthcare sectors.
Alongside Director Park, Team Leader Lee Sang-geun is expected to be named as a key operating personnel. Team Leader Lee graduated from Peking University in China with a degree in Business Administration and worked as an analyst at AJU IB Investment. He has strengths in investments in consumer goods, internet services, and platform sectors.
Smilegate Investment believes that now is the right time for overseas investment. Through this fund, they plan to focus investments on promising companies in India. Their past experience of traveling to India alongside Neoplux (now Shinhan Venture Investment) when accelerating investments there, achieving good investment results, also influenced this decision.
Previously, in 2019, they formed the 'Kairos Fund (SmileGates Vietnam Kairos Fund #1)' to invest in Vietnamese companies. They have consistently analyzed emerging markets around Korea and created related funds to invest not only domestically but also abroad.
Smilegate Investment plans to initially form the India fund at a scale of 30 billion KRW and then increase it to 50 billion KRW. Unlike many venture capitals that take a passive stance on investment, Smilegate Investment is actively raising funds, which is receiving positive evaluations.
Meanwhile, Smilegate Investment, which started as MVP Startup Investment in 1999, is conducting investment activities centered around CEO Nam Gi-moon, a founding member of MVP Startup Investment. In 2000, it formed Korea's first startup investment association. It is a top-tier VC that has steadily grown together with numerous investors and startups.
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