Atinum Investment Achieves Distribution Results Just Two Years After Launching 860 Billion Won Mega Fund

Cumulative Distributions Reach 180 Billion Won
"Achieving Both Short-Term Results and Long-Term Value Creation"

On December 23, Atinum Investment announced, "We have distributed approximately 35% of the committed capital to limited partners (LPs) from the 'Atinum Growth Investment Partnership 2023' fund, which has been in operation for about two years and six months." This move reflects the recent trend in the global venture capital (VC) and private equity markets, where the distribution to paid-in (DPI) ratio is emerging as a key performance indicator.

The 'Atinum Growth Investment Partnership 2023' fund attracted industry attention at its launch as a large-scale fund with a total size of 860 billion won. Since its establishment at the end of 2023, three capital calls have been made, resulting in 516 billion won being committed, representing 60% of the total commitment. Including this latest distribution, the cumulative amount distributed has reached 180 billion won.

Achieving interim distributions from the early stages of a large fund's formation reflects the growing importance of 'liquidity' in the current alternative investment market. This is because there is a growing trend to use DPI, which measures actual cash returns, as a core metric over internal rate of return (IRR).

Globally, it is rare for a large fund focused on domestic portfolios to achieve such rapid distribution results. Typically, large VC funds with assets over 300 billion won are slower to convert to cash. In addition, for overseas venture funds, the first distribution often occurs after the fifth year of the fund’s life. The global average DPI for VC funds also generally remains at the 0.01-0.03 level as of the fifth year.

Even considering the recent trend of slightly faster distributions, the DPI of 0.35x achieved by the Atinum Growth Investment Partnership 2023 is considered highly exceptional by global standards. Among VC funds established in 2023, even those in the top 10% in terms of performance have an average DPI of only about 0.02x.

Atinum, founded in 1988 as a first-generation VC, manages total assets under management (AUM) of approximately 2 trillion won. Atinum pursues a balanced portfolio strategy, investing in companies with strong long-term growth potential while also including growth-stage companies expected to deliver tangible results within two to three years. Notably, in most of its previous large-scale funds exceeding 100 billion won, Atinum began interim returns within two years of formation, providing meaningful cash distributions to its investors.

The company is also preparing for new fundraising next year. An Atinum representative stated, "Through meticulous portfolio construction and exit timing management, we focus not just on rapid returns but on capturing the optimal moment for value realization," adding, "We will continue to establish ourselves as a trusted long-term partner for both our investors and portfolio companies."