Korean VC Mashup Ventures Announces Decade of Success & 2023 Investments

Korean VC Mashup Ventures Announces Decade of Success & 2023 Investments

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Mashup Ventures, a venture capital firm specializing in early-stage startups based in South Korea, has disclosed its investment achievements for 2023, alongside a decade of investment performance since its inception.

Originally launched as Mashup Angels in 2013, the firm has focused on early-stage startup investments and officially rebranded itself as Mashup Ventures on the 6th of this year. Over the last decade, it has made initial investments in a total of 168 startups, with the cumulative valuation of these companies now reaching approximately KRW 11 trillion. Among these, two companies boast valuations exceeding KRW 1 trillion.

In the last year, Mashup Ventures initiated new investments in 16 startups, serving as the first institutional investor for 81% of them. The firm has invested in a total of 168 startups to date, with average investment amounts ranging from KRW 100 million to 500 million. The sectors of investment include early-stage IT technology-based startups in fields such as enterprise, content, consumer, fintech, and healthcare. Notably, the firm has actively invested in companies within the AI and SaaS sectors, accounting for 44% and 25% of its investment portfolio, respectively.

Despite challenging investment climates, several portfolio companies have been recognized for their technological innovation and growth potential through subsequent investments. Last year, 28 companies, including Myrealtrip, Scatter Lab, Nudge Healthcare, FINDA, and LionRocket, secured follow-on investments, bringing the total amount of subsequent funding for the portfolio to over KRW 2.2 trillion.

Furthermore, Mashup Ventures successfully recommended a total of 13 companies to the TIPS program last year, achieving a 100% selection success rate with a cumulative total of 52 companies selected.

Lee Taekkyung, CEO of Mashup Ventures, remarked, “The results we have achieved over the past decade as the first partner of founders are evident in the performance of our diverse portfolio companies. Leveraging the expertise of our newly joined partners, who are founders themselves, we are committed to supporting startup teams in achieving rapid growth, even in challenging investment periods.”

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