Aju IB Investment Surpasses 10 Billion KRW Operating Profit in First Half of the Year

Earnings Announcement on the 14th: H1 Operating Profit of 10.8 Billion KRW
Gridwiz Listing Drives Performance
Active IPOs in H2... "We Will Reward Shareholders"

AJU IB Investment announced on the 14th that it recorded an operating profit of 10.8 billion KRW on a consolidated basis for the first half of this year. AJU IB Investment is one of Korea's leading large venture capital (VC) firms, managing assets under management (AUM) worth 2.3 trillion KRW.

According to AJU IB Investment, the primary contributor to surpassing 10 billion KRW in operating profit in the first half was the listing of Gridwiz on the KOSDAQ in the second quarter. AJU IB Investment invested in Gridwiz’s early Series A and B rounds in 2016 and 2017, and as Gridwiz successfully established itself in the KOSDAQ market, it generated high returns. Another investment, HNS Hightech, also contributed to the improvement in AJU IB Investment’s performance as its stock price surged significantly while preparing for a backdoor listing on KOSDAQ.

Management fee income for the first half also reached 9.13 billion KRW, establishing itself as a stable source of revenue. Management fees guarantee continuous income regardless of investment market conditions. AJU IB Investment plans to strengthen overseas investments by incorporating the Silicon Valley branch of SolarStar Ventures and establishing dedicated funds to expand its investments in the United States.

The outlook for exits through initial public offerings (IPOs) in the second half remains positive. The listing of Nextbiomedical, an innovative polymer therapeutic development company, has already been approved, and several other companies are undergoing listing reviews, raising expectations for additional exit profits.

Kim Ji-won, CEO of AJU IB Investment, stated, “Despite the challenging economic environment, we will do our best to continue generating steady profits through solid management fee income and operational capabilities, thereby rewarding our shareholders and investors.”