Ddokddok Unveils First Demo of LP Management System, Stresses 'Security' Amid Concerns Over Data Exposure

Ddokddok, a subsidiary of DSC Investment, held a two-day demonstration event for its enterprise resource planning (ERP) system LPWorks, designed for institutional investors, on April 28 and 29. The key feature of LPWorks is its ability to organically connect data from ERP systems previously launched for startups and venture capital (VC) firms, thereby creating a unified investment ecosystem. As a subsidiary of a general partner (GP) asset manager, Ddokddok emphasized security to address concerns over the potential exposure of information to competing GPs.

Bojung Kim, Head of Business Planning at Ddokddok, is explaining the product at the LP Works demonstration event. Photo by Ddokddok

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At the LPWorks demonstration held in Yeouido, Seoul on April 28, Bomjeong Kim, Head of Business Planning at Ddokddok, stated, "We designed the product to connect the work of startups, VCs, and limited partners (LPs) into a single data flow, digitizing the overall ecosystem and ensuring data integrity." Since August of last year, Ddokddok has been providing the StartupWorks ERP system for startups and the VCWorks ERP system for venture capital firms. With the scheduled launch of LPWorks in the first half of the year, the venture investment ecosystem's ERP infrastructure will be complete.

On this day, Ddokddok demonstrated LPWorks by focusing on the core work of LPs, including: ▲management of commitments and response to capital call requests ▲post-investment portfolio management ▲review of new investment deals ▲responses to general meetings of partners ▲cash flow management. LPWorks integrates dispersed data into a single platform and automates previously inefficient manual work caused by the lack of systems by connecting with VC data. It also enables real-time analysis through visualizations such as charts and dashboards, as well as investment performance and sector allocation tracking. Kim added, "We also plan to develop features such as enhanced AI-based data integrity verification, custom data requests, and AI-powered early warning systems."

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Chief Technology Officer Kang Hunmin unveiled “DdokPick” to address the limitation that data integration is not possible if a GP does not use VCWorks. If a document received from a GP is uploaded, AI automatically identifies it and integrates it into LPWorks. Kang explained, "Only the materials personally uploaded by a user are integrated into LPWorks, and information is strictly visible only within the funds to which the user has committed. There is no possibility of seeing another LP's documents on your screen, nor will your materials be displayed to other LPs."

Questions from LP representatives followed. As Ddokddok is a subsidiary of DSC Investment, which is itself a GP, most questions focused on security issues. When one LP institutional representative asked whether an LP business report could be uploaded without GP's permission and whether individual partner names would be disclosed, Kim answered, "It is the same as registering internally within your own system, so uploaded data is only visible to the uploading LP; other GPs do not have access. All individual names in the partner registry are also masked."

Another LP representative asked whether GPs must join the platform to enable two-way communication with VCWorks, and whether information is completely separated from the parent company, DSC Investment. Kang responded, "To address this, we have implemented a five-layer security system to enhance protection. Furthermore, in the case of the database, information is encrypted, and unless the key is provided, not even developers have permission to access it."

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