[We Tried Angel Investing] How Do Investment Analysts in Their 20s Choose Startups?

Helping Startups Attract Customers Through Video Production
"I Made an Angel Investment in 'Artistic Fashion' With Friends"
A Group for Analysts Born in 1996 or Later: Yoonji Ko and Doyeon Kim

There is a saying, "Bulchihamun," which means that there is no hierarchy in learning. To learn tips for early-stage startup investment, I met with two members of a group for investment analysts born in 1996 or later. These analysts are discovering and investing in promising startups from a young person's perspective, identifying companies with exceptional potential from the outset. They already have two to three years of experience in this field. They have helped promote startups by producing short-form videos with founders, and have even personally invested in domestic brands that elevate fashion into the realm of art.

Yoonji Ko, Investment Analyst at Fast Ventures.

Yoonji Ko, a 26-year-old investment analyst at Fast Ventures, studied Business Administration and Venture Management at Ewha Womans University. She joined ES Investor in 2020 before moving to Fast Ventures in April last year. She said she joined the group while looking for other analysts her age. The group currently has 49 analysts, who use it to expand their networks and share investment information, such as demo days. She meets with industry professionals three to four times a day, and sometimes gets recommendations for good restaurants to visit during these meetings. Ko explained, "Even if it doesn't lead to an immediate investment, I make a point of meeting a variety of people," adding, "I don't limit myself to founders; I also meet online shopping mall merchandisers and startup marketing managers." She noted that meeting charismatic founders can sometimes make it easy to get swept up in their enthusiasm, so she tries to increase opportunities to meet with operational staff as well.

The unique strength of young analysts is their ability to connect with young founders as friends and colleagues. Ko said, "One day, while sitting in a cafe with a founder, we brainstormed ways to increase the number of customers without raising marketing costs, and came up with the idea to create a short-form video." This led to the production of a short video introducing the service "Jipjigyeo" for monthly and yearly tenants of the startup Plda. The video piqued tenants' curiosity with questions like, "Has my landlord ever failed to return a deposit?" Ko's interest in video production and editing made this possible. In fact, she is a YouTuber with about 28,000 subscribers, sharing her daily life and thoughts in vlog format.

Ko specializes in seed or pre-Series A investments in early-stage startups. She recalls leading the investment decision for "Yeolmae Company," which operates a fractional art investment platform. Last year, Yeolmae Company's revenue (28.8 billion KRW) surpassed that of K Auction, a leading art auction house, highlighting its rapid growth. Ko said, "Although the current startup market is challenging and it's not an easy time to start a business, there are still strong teams that attract investment." She added, "Early-stage investment is a long-term game, so now is actually a good time to invest." When deciding whether to invest, she looks for "founders who are flexible enough to pivot their business direction, but persistent enough to lead their companies through challenges." She also mentioned that increased mergers and acquisitions, both large and small, with major corporations would help revitalize the investment market. Ko expressed her ambition to "continue studying and develop expertise that spans a wide range of industries."

Doyeon Kim, Investment Analyst at Exploinvestment.

Doyeon Kim, a 27-year-old investment analyst, is an early member of Exploinvestment, the corporate venture capital (CVC) arm of GS E&C. After studying Chinese Economics at The Chinese University of Hong Kong and interning at a venture investment firm, he began his career at KK Fund, a Singapore-based venture capital firm. Kim said, "Being an investment analyst is always enjoyable because I get to meet new industries, companies, and people, and learn so much." When evaluating investments, he considers the market size and growth potential, the team's capabilities and experience, and the competitiveness of the product or service.

Exploinvestment is a new VC firm established in May last year. It mainly invests in companies related to smart cities, smart safety, and climate crisis response. The firm is also planning a startup competition called "Camp Explo," where the winner will have the opportunity to collaborate with GS E&C. Kim said, "During market downturns, the distinction between strong and weak companies becomes even clearer." He added that when it is difficult to find suitable investment opportunities, capital tends to concentrate on market leaders. In the case of autonomous driving and drone industries, Kim explained that companies with extensive demonstration data and stable collaborations with government agencies and local authorities are inevitably preferred.

Recently, Kim and his acquaintances made an angel investment in a domestic fashion company called "Lerici." He described Lerici as "the ultimate in craftsmanship," and introduced it as "a company striving to create the most sophisticated clothing in the world." Kim said he was inspired by CEO Kim Daecheol, who devotes around 100 hours to making a single garment. He was drawn to Lerici's artistic approach, which prioritizes craftsmanship over mass production and quick sales. Lerici secured its first investment as it prepared to launch a women's brand and expand into overseas markets. Kim said, "I will continue to support Lerici with ongoing interest and affection until it becomes a global brand."