Stone Ventures "Portfolio of 5 Companies Undergoing Exchange Review"

Stonebridge Ventures announced on the 27th that the number of portfolios undergoing listing review has reached five, following Day1 Company, which Stonebridge Ventures holds in its proprietary account, submitting a preliminary examination request to the Korea Exchange for listing on the KOSDAQ market.

In particular, with Day1 Company, invested through the proprietary account, initiating the procedures for KOSDAQ listing, the possibility of portfolio recovery and profit realization has significantly increased.

Stonebridge Ventures acquired common shares of Day1 Company in 2017. Initially, Park Ji-woong, CEO and former venture capital (VC) analyst at Stonebridge Capital, the predecessor of Stonebridge Ventures, became independent and invested in Fast Track Asia, a company builder established in 2012, becoming a shareholder. Subsequently, during the process of Fast Track Asia’s education division being spun off and established as Day1 Company in 2017, Stonebridge Ventures acquired shares.

Fast Track Asia demonstrated its value as a rare company builder in Korea by receiving a new share investment of 22 billion KRW from Krafton last year.

Additionally, ‘Encell,’ a faculty startup from Samsung Seoul Hospital engaged in contract development and manufacturing of cell and gene therapies, has already completed the submission of its securities registration statement. Furthermore, among Stonebridge Ventures’ major portfolios, ‘Onconic Therapeutics,’ which has a new drug approved by the Ministry of Food and Drug Safety after completing Phase 3 clinical trials; ‘Clobot,’ an intelligent robot solutions company; and ‘Meatbox Global,’ a specialized online platform for direct livestock product transactions that received investment from Altos Ventures, have all submitted preliminary examination requests to the exchange and aim to be listed within this year.

A Stonebridge Ventures representative emphasized, “Although the business areas of the five companies are all different, they are showing clear business performance. We expect that their entry into KOSDAQ within this year as planned will have a positive impact on Stonebridge Ventures’ performance.”