InfoBank’s Investment Division iAccel Achieves Significant IPO and Investment Milestones in 2023
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InfoBank‘s investment division, iAccel, based in Korea, has announced its annual investment performance and achievements for 2023.
In the past year, iAccel concentrated on technology-based startups with promising potential for future growth, actively investing in fields such as AI, Bio/Health, Envirotech, e-Commerce, and TechFin.
iAccel’s accomplishments in 2023 include: ▲investing in 81 new companies ▲a total investment amounting to 19.7 billion won ▲an average investment of 240 million won ▲raising new funds totaling 21.2 billion won ▲selecting 151 teams for the cumulative TIPS (Tech Incubator Program for Startup) ▲establishing a public technology commercialization fund to discover companies with technology transfers from public research institutions like universities and government research institutes ▲and creating a regional innovation fund to unearth companies located outside the capital region. In a challenging venture investment climate, iAccel firmly established itself as a specialized early-stage investment institution, dedicated to the survival and growth of startups.
Additionally, iAccel became the TIPS operator with the highest number of selections, with 42 companies chosen for the private-led technology startup support program, TIPS. Last year, 12 companies were selected for the newly established DeepTech TIPS. Notably, companies such as Crowdworks and Qualitas Semiconductor achieved Initial Public Offerings (IPOs), showcasing success stories that span the entire process from discovery, investment, incubation, to exit.
For 2024, iAccel plans to increase the success potential of its investment companies through specialized and systematic accelerating programs. It intends to broaden its investment scope, particularly in DeepTech areas such as Big Data/AI, Bio/Health, Green/Energy, Robotics, and Quantum Technology, as well as Agritech and Envirotech.
Jongcheol Hong, the head of InfoBank’s investment division iAccel, stated, “Leveraging our successful IPO experiences with SOCAR in 2022 and with Crowdworks and Qualitas Semiconductor in 2023, we aim to focus more on post-investment management in 2024, including strategic business guidance and systematic growth support, to facilitate rapid growth of our portfolio companies.” He further added, “We will provide extensive support to our portfolio companies in various aspects, ranging from business strategy and PR/marketing to fundraising and international expansion, utilizing InfoBank’s comprehensive investment network for thorough business diagnostics and ongoing support.”
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