‘Parasite’ backer Company K Partners launches $102m growth fund: Report

South Korean 10,000 won note is seen on U.S. 100 dollar notes in this picture illustration taken in Seoul, South Korea, December 15, 2015. REUTERS/Kim Hong-Ji

South Korean venture capital investor Company K Partners, which counts Oscar-winning ‘Parasite’ in its portfolio, has launched a 124-billion won ($102 million) fund that seeks to invest in later stages.

According to a report by Korea Herald, Company K Partners seeks to raise up to 150 billion won ($123 million) for the final close of the growth fund, dubbed Company K High Growth Fund.

Founded in 2006, the firm specialises in investments in culture content, electronic components, computer, machinery, broadcasting, arts, sports, and leisure industries.

Its portfolio of some 340 firms includes Zigbang, Ridibooks, Rainist, and Carver Korea, as well as commercial films including the Oscar-winning’ Parasite’. The South Korean film is the first movie in history to win both Best Picture and Best International Film at the Oscars.

Company K Partners recently participated in the $17-million Series C funding round in Buzzvil, a South Korean firm that provides a lock screen ad platform connecting partners and advertisers.

The report said the growth fund is backed by major institutional investors, such as Korea Teachers’ Credit Union and Korea Scientists & Engineers Mutual-aid Association. State-owned risk capital firm K-Growth also chipped in while Company K Partners contributed 10 billion won.

Company K High Growth Fund is the company’s 20th vehicle and, once closed, will bring the firm’s total assets under management to over 560 billion won ($460 million).

The launch of the growth fund comes at a time when South Korean VCs are increasingly getting aggressive not just in the local market but in Southeast Asia in general, buoyed by President Moon Jae-in’s policy to deepen the country’s ties with the region.

Since 2017, Southeast Asia’s tech scene has seen a significant number of deal activity involving South Korean investors, according to our earlier report.

For startups in Southeast Asia, the influx of South Korean investors has been more than welcomed, not only because of the abundance of capital they come with but also of the fresh point of view that they offer to companies.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.