Mark & Company, led by CEO Kyungpyo Hong, has announced the establishment and management of a new venture investment fund in partnership with Yoonmin Creative Investment Foundation, chaired by Minseop Sung. Through their initial KRW 5 billion investment fund established in 2021, Mark & Company has successfully invested in 19 companies.
Among these investments, nine companies have been selected by the Technology Innovation Program for Startups (TIPS), while four others are in the process of applying for TIPS this year. Notable companies in their portfolio include Towns, Aegiyagaza, LoLabs, TrueLight Korea, Wooju Stationery, and Nine AM, showcasing their commitment to supporting diverse sectors and innovative startups.
This collaborative effort builds upon the success of their previous venture, the MegaStudy-Yoon Min-Mark Venture Investment Fund No. 1, launched in July 2021.
The newly introduced MegaStudy-Yoonmin-Mark 2 Venture Investment Fund focuses on early-stage startups demonstrating significant growth and making notable contributions to the startup ecosystem.
The fund will allocate at least 50% of its capital to support early-stage companies operating for less than three years as part of its investment strategy.
Kyungpyo Hong, CEO of Mark & Company, and Jihwan Cheon, Director of Yoon Minchang Investment Foundation, will lead the fund. The team managing the fund includes Hye Seung Jang, Director of Mark & Company, and Moonwoo Nam, Team Leader of Yoon Minchang Investment Foundation.
MegaStudy, the anchor investor, is a prominent venture capital firm that has consistently demonstrated a keen interest in fostering innovation and supporting emerging businesses. With the launch of the second fund, MegaStudy aims to continue its mission of identifying and funding early-stage startups that are driving transformative change across various industries.
Eunjin Son, CEO of MegaStudy, expressed their enthusiasm, stating, “We are excited to embark on this new fund and eagerly anticipate discovering innovative startups that are revolutionizing different sectors. We maintain regular interactions with startup founders, providing them valuable guidance on growth strategies, and we remain committed to supporting them in their journey.”
Established in 2016, the Yoon Min-chang Investment Foundation has emerged as a leading institution for early-stage investments. Through its “Good Starter” program, held twice a year, the foundation has already funded over 90 companies, helping its position in the startup ecosystem.
Cheon Ji-hwan, representing the foundation, emphasized their approach for the second fund, stating, “In addition to leveraging internal and external deal-sourcing pipelines to identify exceptional companies, we have taken measures to bolster our support for startups. This includes expanding our internal team and securing the status of a Technology Innovation Program for Startups (TIPS) operator to facilitate increased investments this year.”
Mark & Company is a data-driven investment firm renowned for operating the startup growth analysis platform “Innovation Forest.” With a focus on open innovation, the company acts as an accelerator, facilitating connections between large corporations and startups.
Since its launch on August 21st, “Innovation Forest” has emerged as a pivotal startup database platform. It meticulously collects and analyzes diverse data points such as monthly active users, consumer transactions, patents, sales figures, and employment status from over 6,000 startups, establishing itself as a vital hub within the startup ecosystem.
By actively engaging in early-stage investments, they seek to contribute to the growth and success of innovative ventures while propelling the overall development of the startup ecosystem in South Korea and beyond.
