Stonebridge Forms New Fund Worth 182.5 Billion KRW... "Focusing on Deep Tech Sector"

Stonebridge Ventures announced on the 2nd that it has successfully raised a new fund worth 182.5 billion KRW. Despite the funding winter, the company plans to increase its investment resources by 242.5 billion KRW in 2023 through the establishment of two new funds, expanding proactive investments in promising deep tech sectors.

Stonebridge Ventures held a formation meeting on December 28 last year and completed the first closing of the 'Stonebridge New Growth 4.0 Investment Association' with a scale of 182.5 billion KRW. As a result, the assets under management (AUM) will expand to around 1.3 trillion KRW, and the company’s performance stability is expected to improve significantly.

The newly established 'Stonebridge New Growth 4.0 Investment Association' includes many major domestic limited partners (LPs) such as Korea Development Bank and Korea Growth Investment Corporation. Due to administrative procedures, LPs like the National Pension Service, which could not participate in the first closing, will be gathered for a second closing early this year to increase the fund size.

The fund focuses on five core technology areas of the government’s New Growth 4.0 strategy and 15 key projects: ▲Semiconductors ▲Mobility ▲AI/DATA ▲Eco-friendly Energy ▲Bio Healthcare. Stonebridge Ventures plans to concentrate investments in these so-called deep tech sectors where it has demonstrated multi-year achievements.

This Stonebridge New Growth 4.0 Investment Association will serve as the company’s main fund, leading scale-up through sizable investments centered on verified companies. Alongside the 60 billion KRW early-stage exclusive fund, IBK-Stonebridge Rising No.2 Investment Association, formed in October last year, it aims to drive organic growth of portfolio companies and maximize fund operation returns.

The lead fund manager is Partner Dong-Yeol Choi. Partner Choi led investments and exits in Stonebridge Ventures’ signature deals such as Suar Labs, Gaon Chips, and Open Edge Technology. Key operating personnel include Executive Director Seung-Hyun Lee, who has strengths in IT tech and bio innovation investments, and Executive Director Hyun-Ki Kim, who has led investments in the bio and healthcare sectors.

Both the lead fund manager and key operating personnel have built overwhelming investment and exit track records over many years. They are judged to possess insights into technology and markets, extensive industry experience, a rich SI network, and considerable experience in scaling portfolio companies into global enterprises.

Partner Dong-Yeol Choi stated, “The five main focus areas of this fund are the core keywords of the New Growth 4.0 strategy announced by the government at the end of 2022, and these are the industrial sectors that Stonebridge Ventures knows best and has delivered multi-year results in. We plan to discover and invest in even more successful signature deals in these five areas with this fund.”

CEO Seung-Woon Yoo emphasized, “We thank the LPs who trusted the company and invested even during difficult times, and we will continue to repay that trust with excellent operational performance and exemplary management.”