Korean VC ‘New Paradigm Investment’ Announces 2023 Achievements and Plans for Upcoming IPOs

Korean VC ‘New Paradigm Investment’ Announces 2023 Achievements and Plans for Upcoming IPOs

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New Paradigm Investment, the Korean investment firm, has unveiled its investment achievements for 2023 and outlined its main investment strategies for this year.

Last December, New Paradigm Investment successfully recouped its investments through the KOSDAQ listing (IPO) of BLUEMTEC, a pharmaceutical distribution company often referred to as the “Coupang” of its portfolio. This event marked the first occasion of completing the full cycle from identifying and investing in early-stage startups, to nurturing, growth, listing, and exit. Consequently, New Paradigm Investment achieved a ’50-fold multiple’ return, amassing KRW 10 billion, within just four and a half years of its investment.

This year, the company has officially outlined its intentions to pursue IPOs for two of its portfolios : VINSSEN, a manufacturer of eco-friendly ships, and Medical AI, a trailblazer in ECG artificial intelligence for innovative medical devices. The objective is to boost the corporate value of both entities.

New Paradigm Investment portfolio companies have attracted KRW 55.4 billion in follow-up investments as of last year, according to a company official.

The official also confirmed the formation of a KRW 5 billion fund to provide follow-up investments to successful portfolio companies. The total assets under management (AUM) of New Paradigm Investment as of the end of last year amounted to KRW 47.4 billion.

“Our target amount for follow-up investment attraction for portfolio companies this year is KRW 100 billion,” said Park Je-hyun, co-CEO of New Paradigm Investment. “We also plan to form an additional fund of at least KRW 20 billion by receiving capital contributions from the fund of funds this year.”

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