[Market Focus] Mirae Asset Venture Investment Hits Record High for Second Consecutive Day

On December 19, Mirae Asset Venture Investment hit a record high for the second consecutive day, driven by expectations surrounding the initial public offering (IPO) of U.S. private space company SpaceX and policies aimed at revitalizing Korea’s KOSDAQ market.

As of 9:55 a.m. on this day, Mirae Asset Venture Investment was trading at 18,150 won, up 4,270 won (29.99%) from the previous trading day. This follows a 29.93% surge the previous day, marking two consecutive days of sharp gains.

With SpaceX’s IPO next year becoming more visible, interest in Mirae Asset Venture Investment, which invested in the company, is also increasing. At the time of investment, SpaceX was valued at approximately 187 trillion won, and some analysts predict that the value of the shares held could rise nearly tenfold upon listing. Mirae Asset Securities and Mirae Asset Venture Investment, both part of the Mirae Asset Group, are reported to have invested a total of $278 million (about 410.7 billion won) in SpaceX between 2022 and 2023.

On this day, Jeong Huihun, a researcher at Eugene Investment & Securities, commented on SpaceX, saying, “In recent over-the-counter stock transactions, SpaceX was valued at $800 billion (about 1,180 trillion won). This surpasses OpenAI (the operator of ChatGPT), which was valued at $500 billion, making SpaceX the world’s most valuable unlisted company.”

He added, “Reports have since emerged that SpaceX will go public in the second half of next year, and Elon Musk, the Chief Executive Officer, also replied ‘Accurate’ to a related social media post,” and predicted, “If listed in the second half of next year, the company’s valuation could be assessed at around $1 trillion to as much as $1.5 trillion.”

Meanwhile, expectations are also rising for government policies such as structural improvements to the KOSDAQ market and the inflow of long-term capital, which will be implemented in earnest starting next year. These policy changes are highly likely to lead to an expansion of capital deployment and improved exit conditions across the entire venture capital industry.

Mirae Asset Venture Investment is recognized as a leading domestic venture capital (VC) firm with over 20 years of experience in venture and private equity investment. Since its establishment, it has formed a cumulative fund of approximately 2 trillion won through 53 VC investment partnerships and 6 institution-only private equity funds.