[Exclusive] Why Investors Are Flocking to the 'Forever Young Idols'... 7 Billion Won Poured In

AMA, the Agency Behind Virtual Idol OWIS,

Raises 6.9 Billion Won from Leading VCs Including SBVA and Korea Investment Partners

Appeared on Music Shows...VCs Continue to Invest in Virtual Idols

AMA, the entertainment company behind the virtual idol group 'OWIS,' has secured a seed investment of 7 billion won. The company’s Chief Creative Officer (CCO) is Lee Haein, who gained attention as a contestant on the idol trainee competition program 'Produce 101.' Large venture capital (VC) firms are increasingly focusing on the virtual idol market.

Lee Haein, Chief Creative Officer (CCO) of AMA, OWIS. Instagram capture of Lee Haein, AllMyAnicdots

According to the VC industry on the 23rd, entertainment company AMA has raised a total of 6.9 billion won in seed investment. The lead investor is SBVA (formerly SoftBank Ventures), and other participants include Korea Investment Partners, Reventures, label UNCORE under SLL, and Aurora World. A representative from SBVA stated, "AMA leads the entire planning and production process based on its success in the global K-pop market, and we decided to invest, noting its potential for expansion, especially around virtual intellectual property (IP) in the future."

Virtual girl group 'OWIS' from entertainment company AMA. OWIS X Official Account

AMA was founded by CEO Kim Jay, formerly of Warner Music Korea, and CCO Lee, a creative director who gained popularity as an idol trainee on Mnet’s 2016 survival program 'Produce 101.' After transitioning from idol trainee to idol producer, CCO Lee also participated in producing the girl group 'Kiss of Life' in 2023.

OWIS, the company’s first artist, is a five-member (Serin, Haru, Summer, Soy, and Yuni) virtual girl group that debuted on March 23. Virtual idols are singers created as virtual characters using 2D, 3D, or animation, rather than existing as real people. They perform in real time by linking the movements of actual individuals using facial and body tracking technology. On April 2, OWIS released the first concept photo of their debut mini-album 'Museum' through their official social networking service (SNS) and uploaded the new music video to their official YouTube account. They also had their debut stage performances on music shows such as Mnet’s 'M Countdown,' MBC’s 'Show! Music Core,' and SBS’s 'Inkigayo.'

Haein Lee, Chief Creative Officer (CCO) of AMA. Screenshot from Haein Lee's Instagram.

AMA is not only producing virtual idols but also developing related technologies. In December of last year, AMA was selected for the general track of TIPS, receiving a total of 500 million won in research and development (R&D) funding. The company is currently working on a virtual idol production project based on AI-powered non-optical motion capture correction and restoration technology. Character content company Aurora World is also reportedly participating as a commissioned R&D institution. CEO Kim stated, "The investment will be focused on advancing virtual-related technologies and on producing content for the second album."

Major VCs Focus on Virtual Idols...Follow-up Investments Are Pouring In

Major VCs are showing growing interest in 'virtual idols,' which combine K-entertainment and technology. Virtual idols operate in virtual worlds, which means there are no limitations to their universe and human risk is reduced.

The VTuber market, regarded as the origin of virtual idols, is also expanding. According to a report released in December 2023 by the global market research agency Global Information, Inc. (GII), the worldwide VTuber market was valued at USD 2.54 billion (about KRW 3.7523 trillion) in 2024. GII predicts that the market size will reach USD 3.06 billion (about KRW 4.5025 trillion) in 2025 and grow to USD 13.62 billion (about KRW 20.1208 trillion) by 2033. The compound annual growth rate (CAGR) is projected at 20.5%. GII analyzed, "The global VTuber market is experiencing significant growth, shifting from a niche interest to becoming a central part of mainstream digital entertainment."

With expectations for market growth, investments are continuing. Blast, the agency of the most well-known five-member virtual boy group 'PLAVE,' has secured a follow-up investment of 2.8 billion won from DSC Investment. Blast previously attracted pre-Series A investment from its subsidiary Schmidt and DSC Investment.

23C Kids, the agency of the virtual boy group 'WE GO-6,' also raised series A investment of 4 billion won from Murex Partners, Kakao Ventures, and D.CAMP after previously attracting seed investments from Korea Investment Partners, KB Investment, Kakao Ventures, and FuturePlay. 'WE GO-6' was initially scheduled to debut in the second half of last year, but the timing was reportedly adjusted. Virtual idol entertainment startup SCON also secured a total of 2 billion won in pre-Series A investment in 2024 from SM Culture Partners, Quad Ventures, and SB Partners.

The domestic virtual idol market is, in every sense, a 'blue ocean.' This means that while there are first-mover brand advantages, there is also market uncertainty. A VC industry representative commented, "The potential for growth exists, but it has not yet reached the mainstream. If one or two more successful virtual idol groups emerge, it is expected that a formula for success will begin to take shape."

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