SoftBank Ventures to Expand Follow-up Investments This Year

Follow-up Investments in Existing Startups Account for 50% of Total Investment Deals

[Asia Economy Reporter Kim Cheol-hyun] SoftBank Ventures announced on the 9th that follow-up investments in companies they had previously invested in accounted for 50% of their total investments this year. This figure surpasses last year's follow-up investment ratio of 30%.

Amid uncertainty in the economy causing a contraction in the startup investment market, SoftBank Ventures is supporting continuous growth by increasing follow-up investments in their existing portfolio while discovering new investment opportunities.

Representative companies that SoftBank Ventures made follow-up investments in include 'Doctor Now,' a non-face-to-face medical app that recently completed a 40 billion KRW Series B funding round. 'MarkVision,' an AI-based counterfeit detection platform that gained attention through a contract with France's LVMH group, owner of Louis Vuitton, also received support from SoftBank Ventures in its 26 billion KRW funding.

Additionally, SoftBank Ventures participated in the 17 billion KRW Series B funding round of 'Yeolmae Company,' a co-purchasing platform for artworks that recently completed the selection of lead underwriters, supporting its push towards an initial public offering (IPO). The jewelry commerce platform 'Amonz' is also planning to expand into Japan and the United States through an 8 billion KRW round involving SoftBank Ventures.

Lee Jun-pyo, CEO of SoftBank Ventures, stated, "It is difficult to predict how long the investment market will remain frozen, but we will be a reliable partner for startups preparing to take the next step. In particular, we plan to continuously support our existing portfolio companies so they do not face difficulties due to rapidly changing external environments."

This content was produced with the assistance of AI translation services.