April 19, 2024

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[THE INVESTOR] Five Korean venture capital firms -- Lindeman Asia Investment, SV Investment, Neoplux Investment Company, Albatross Investment and E& Investment -- are expected to float their shares this year to raise capital for a new venture fund on the back of strong government support and venture funding surge, industry sources said on Jan. 31. 

Pangyo Techno Valley

Lindeman Asia Investment said it has submitted a securities report to the Financial Services Commission on Jan. 26 to sell 3.40 million shares at 5,000 won to 5,500 won apiece. It plans to list on Korea’s secondary bourse KOSDAQ in March, with a goal to raise between 16.9 billion won (US$15.70 million) to 18.7 billion won. Kiwoom Securities will manage Lindeman’s IPO.

SV Investment recently named Mirae Asset Daewoo as the lead manager, with plans to go for an IPO in the second half of this year.

Neoplux Investment Company, a VC afilliate of Doosan Group, has also picked NH Investment & Securities, for an IPO, with plans to file for preliminary screening in the first half of this year.

Last year, Neoplux invested about 2 billion won in BTC Korea.Com, which owns the nation’s largest cryptocurrency exchange Bithumb.

Midsized VCs Albatross Investment and E& Investment are also reportedly preparing for an IPO.

Industry watchers say the VCs are raising funds to increase the size of new funds to match the government-backed fund of funds.

The Korean government in November said it will create a 10 trillion won fund to invest and nurture startups in the next three years.

By Ahn Sung-mi (sahn@heraldcorp.com)