SBVA Wins 'Minister of SMEs and Startups Award' as VC of the Year at Korea VC Awards 2024

SBVA announced on the 5th that it received the Minister of SMEs and Startups Award in the large venture capital (VC) category at the "Korea VC Awards 2024" held the previous day at Signiel Seoul in Songpa-gu, Seoul. This is their second award following their selection as the Best Management Company in 2019.

Lee Jun-pyo, CEO of SBVA (right), is posing for a commemorative photo after receiving the Minister of SMEs and Startups Award in the large venture capital (VC) category at the "Korea VC Awards 2024" held on the 4th at Signiel Seoul in Songpa-gu, Seoul. Photo by SBVA

Now in its 15th year, the Korea VC Awards is an event hosted by Korea Venture Investment Corp. to honor institutions and individuals who have contributed to the development of the innovative venture ecosystem. The VC category of the year is judged based on indicators such as funds raised, investments executed, and returns achieved over the year.

This year, SBVA raised a total of 410 billion KRW through funds including the 2023 Alpha Korea Fund worth 200 billion KRW, the Alpha Intelligence Fund worth 180 billion KRW, and the Alpha AI Healthcare Fund worth 30 billion KRW. Through these funds, they invested 120 billion KRW in 18 companies aiming to enter the global market. Additionally, they conducted approximately 200 billion KRW in returns, earning recognition for their contribution to revitalizing investments in small and medium-sized enterprises and startups, leading to their selection in the large VC category this year.

Currently, SBVA manages assets worth approximately 2.5 trillion KRW and has invested in over 300 startups domestically and internationally, including AI company Lunit, Danggeun, and Hyperconnect. Over the past five years, through 12 funds totaling about 1 trillion KRW, they have invested approximately 792 billion KRW in 110 companies across various industries such as AI, energy, healthcare, fintech, and edutech.

Moreover, last year, SBVA co-hosted an event with the Ministry of SMEs and Startups featuring OpenAI CEO Sam Altman. In October, they held the "2024 SBVA Tokyo Forum" in Tokyo, Japan, supporting eight portfolio companies in their entry into the Japanese market, demonstrating their efforts to strengthen the connection between the domestic IT industry and startup ecosystem and the global market.

Lee Jun-pyo, CEO of SBVA, stated, "Even during the harsh venture investment climate, we have consistently worked to raise funds and invest in innovative companies both domestically and internationally through close cooperation with our partners, serving as a foothold for global market entry. We are honored that our efforts have been recognized, and we will continue to do our best for the sustained growth of the industry."

Meanwhile, SBVA was established in Korea in 2000 as SoftBank Ventures, a venture capital company under the SoftBank Group. In June last year, it became independent after being acquired by The Edge, a Singapore-based investment company jointly founded by Son Tae-jang, Chairman of Mistletoe, Lee Jun-pyo, CEO of SBVA, and Taira Atsushi, CEO of Mistletoe.

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