Smilegate Investment’s 2023 Impact Report: Investing in a Sustainable Future

Smilegate Investment’s 2023 Impact Report: Investing in a Sustainable Future

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Smilegate Investment has published its “2023 Impact Report,” which summarizes the social value created by its investment targets and outlines its investment activities over the past year.

Nam Ki-moon, CEO of Smilegate Investment, commented on the publication of the report, now in its third year, saying, “We believe that investing in companies that are working towards a better future and fostering sustainable value is a way to generate social value. Alongside the pursuit of profit, which is fundamental for a company, we are compiling exemplary business cases that benefit both customers and society through this report.”

The report highlights investment cases that adhere to Smilegate Investment’s ‘Three Principles for Impact Investment’ and showcases areas of impact in alignment with the United Nations Sustainable Development Goals (UN SDGs). It also details the performance of companies invested in the past year through the ‘IBK-Smilegate ESG Fund No. 1,’ formed at the end of 2022, including their sales, employment figures, main products, and individual ESG scores.

Key achievements of 2023 are also disclosed, such as the notable liquidation performance of the ‘Anipang Future Content Investment Union,’ established in 2014 with a fund size of KRW 30 billion. This fund achieved an Internal Rate of Return (IRR) of 21.1%, marking a return of approximately four times the invested capital.

Furthermore, Smilegate Investment has secured approximately KRW 300 billion in new investment funds through blind funds, Private Equity Funds (PEFs), and global investment funds. Various institutions, including Smilegate Holdings, the National Pension Service, KDB, and the Military Mutual Aid Association, have participated as investors in Smilegate Investment’s blind funds, bringing the firm’s total assets under management to over KRW 1.1 trillion.

The company stated, “Despite the ongoing economic downturn, we plan to increase our investments in startups to more than KRW 150 billion this year. Our goal is to discover future unicorns and to create a greater impact on our society.”

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