LB Investment has submitted a preliminary assessment request to the Korea Stock Exchange, the first step to an initial public offering. It chose Mirae Asset Securities as its underwriter.
Founded in 1996, it was formerly part of the LG Group as LG Venture Investment. The VC arm separated from the conglomerate in 2000.
Back then, LG Venture Investment was among the top three VCs affiliated with the big family-run South Korean conglomerates, or chaebol.
LB Investment is wholly owned by its holding company LB Corp. The group is led by G Group founder Koo In-hwoi’s fourth son Koo Ja-doo.
The VC invested in some 500 startups in the last 26 years and did not shy away from early stage and follow-up investments.
Its assets under management (AUM) exceed 1 trillion won ($775 million). The company hit a home run with its investment in Hybe Co., formerly Big Hit Entertainment Co., and Kakao Games Corp.
Industry insiders forecast more VCs to pursue IPOs this year, to take advantage of the bull run in 2021.
DAOL Investment, formerly KTB Network, became a public company late last year. Stonebridge Ventures, which spun off from Stonebridge Capital in 2017, had its IPO earlier this year.
Write to Ye-Jin Jun at ace@hankyung.com
Jee Abbey Lee edited this article.
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