April 26, 2024

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[THE INVESTOR] Korean venture capital firm LB Investment, which enjoyed great success by investing in popular boy band BTS’ agency Big Hit Entertainment, is seeking to float its shares on the tech-heavy KOSDAQ market next year, according to industry sources on Oct. 19. 

The firm has reportedly named Mirae Asset Daewoo -- underwriter for the IPO of SV Investment, another early investor of Big Hit -- as the lead manager. It is also managing Aju IB Investment’s impending public debut. 

Established in 1996, LB Investment was formerly known as LG Venture Investment and separated from LG Group in 2000. 

LB is known for its diverse investment portfolio, ranging from information technology and bio to entertainment. Its lineup includes Big Hit, Korean biotech firm Toolgen, game companies Kakao Games and Pearl Abyss, popular grocery delivery service Market Kurly and massage chair maker Bodyfriend, among others. 

LB is joining the influx of IPOs by VCs that are raising capital for a new venture fund on the back of strong government support and venture funding surge. 

Lindeman Asia Investment and SV Investment made their public debut in March and July, respectively. 

Aju IB Investment has submitted a securities report to the Financial Services Commission, with plans to raise 240 billion won (US$211.61 million) to 290 billion won when it goes public within this year. 

KTB Network, Neoplux Investment and Mirae Asset Venture Investment have filed for preliminary screening on the Korea Exchange for their planned IPO.

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