HB Investment Forms 35 Billion KRW Fund... "Total Fund Formation This Year Reaches 82 Billion KRW"

HB Investment announced on the 17th that it has successfully raised a fund worth 35 billion KRW (HB Deep Tech Win-Win Investment Association). The total amount of funds raised so far in 2023 reaches 82 billion KRW.

HB Investment secured this new fund formation opportunity by overcoming a 6:1 competition ratio, based on its 24 years of extensive fund management experience and investment achievements in companies such as HPSP, Coreline Soft, YFarm, and Vuno. Through this fund, it plans to focus investments on innovative companies in deep tech sectors including semiconductors, artificial intelligence (AI), space industry, and information and communication technology (ICT). Rather than making sole investments, it will pursue a mutually beneficial structure through mergers and acquisitions (M&A) of small and medium enterprises and startups together with strategic investors (SI).

This fund is the third fund HB Investment has formed this year, bringing the total amount of funds raised in 2023 to approximately 82 billion KRW. In March this year, HB Investment formed a 37 billion KRW fund (HB Digital Innovation Growth No. 2 Investment Association) with Samsung Securities as the anchor investor and NH Nonghyup Capital among others. In July, it formed its first co-managed (Co-GP) fund (Shinhan HB Wellness No. 1 Investment Association) with Shinhan Capital. Recognized for excellent exit performance and management capabilities, it has consecutively partnered with major financial institutions to achieve successful fund raising.

Despite the harsh conditions in the venture capital industry this year due to high interest rates and war, HB Investment has steadily realized exit profits, demonstrating solid performance. In the second half of this year, it has consecutively achieved exit results with companies such as Millie’s Library, CrowdWorks, Coreline Soft, SureSoft Tech, and Blue M Tech. Next year, it plans to build a strong track record in various areas including exits and proceed to initial public offerings (IPO).

HB Investment is continuing aggressive investments ahead of its IPO early next year, proving its management capabilities and solidifying its achievements. It is currently preparing for the IPO and is about to submit the securities registration statement. It plans to enter the KOSDAQ market as early as the beginning of next year.