L&S Venture Capital

What L&S Venture Capital does

L&S Venture Capital (엘앤에스벤처캐피탈 주식회사) is a Seoul-based venture capital firm established in 2006 that provides early-stage equity capital and strategic support to Korean technology startups. The firm invests across three named verticals: SEMI & MCE (semiconductors, materials, components, equipment), AICBM (AI, IoT, Cloud, Big Data, Mobile & Network), and BIO & HEALTH-CARE (medicine, medical devices, e-healthcare). With 18 investment professionals managing 844,800+ KRW Million in assets under management, the firm has built a portfolio of 350+ companies and achieved 85+ successful exits over its two-decade operating history.

The firm operates a traditional venture capital revenue model, earning management fees on assets under administration and carried interest from portfolio company exits. Deal flow is sourced primarily through direct engagement with the Korean startup ecosystem, with the firm positioning itself as 'The First Believer' — providing capital to visionary entrepreneurs ahead of mainstream acceptance. Distribution is direct equity investment into portfolio companies; there is no technology product, platform, or software offering operated by L&S itself. In January 2026, the firm led a $5 million Pre-Series A round in Coxwave (AI product analytics) alongside KB Investment, Hyundai Venture Investment, ZERO1NE Ventures, and KDB Capital.

The firm is led by General Partner and Representative Director Dongshik Chang and includes multiple partners, senior managing directors, managing directors, and investment professionals. L&S has implemented Korea's Stewardship Code for institutional investors effective August 1, 2024, and maintains continuously audited annual financial statements (17th–20th periods) filed with Korea's Financial Supervisory Service and audited by Seonghyun Accounting Corporation. Headquarters are at 7F, Haesung B/D, 504 Teheran-ro, Gangnam-gu, Seoul.

Name

L&S Venture Capital

Legal name

엘앤에스벤처캐피탈 주식회사

Website

https://lnsvc.co.kr

Company type

Private

Founded year

2006

Operating status

Operating

Headcount range

11–50 employees

Short description

L&S Venture Capital is a Seoul-based venture capital firm established in 2006 that provides early-stage equity capital to Korean technology startups across semiconductors, AI/ICT, and bio/healthcare sectors, managing 844,800+ KRW Million in AUM across 350+ portfolio companies.

Ownership category

akta.pro rank

Product category

Venture Capital

NAICS

Portfolio Management and Investment Advice (52394), Portfolio Management and Investment Advice (523940), Other Investment Pools and Funds (5259)

SIC

Investment Advice (6282)

akta.pro primary industry

Sector-Focused Venture Capital (Vertical Specialists) (FSANAAAD)

akta.pro secondary industry

Healthcare & Life Sciences Growth Equity (FSANACAB)

Keywords

• Venture capital funding
• Early-stage investments
• Startup equity financing
• Portfolio management services
• Institutional investment management

Headquarters

HQ city

Seoul

HQ country

South Korea

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Others

Revenue model

1. Investment Management Fees and Carried Interest: As a venture capital firm, L&S generates revenue through management fees on managed assets under administration and carried interest from successful portfolio company exits.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

L&S Venture Capital (엘앤에스벤처캐피탈) is a Korean venture capital firm established in 2006 that provides early-stage equity capital and strategic support to innovative technology startups. The firm manages over 844,800 KRW Million in assets across a portfolio of 350+ companies, with sector focus spanning SEMI & MCE (Semiconductor, Material, Component, Equipment), AICBM (AI, IoT, Cloud, Big Data, Mobile & Network), and BIO & HEALTH-CARE (Medicine, Medical Devices, E-Healthcare). It has achieved 85+ successful exits through direct equity investments sourced primarily via direct networking and referrals.

Product overview

L&S Venture Capital (엘앤에스벤처캐피탈) is a Korean venture capital firm established in 2006. The company does not offer a technology product or service; instead, it provides venture capital investment services including capital deployment to portfolio companies, investment management, and portfolio company support. As such, there are no product offerings, modules, or sub-brands to enumerate.

Differentiator

Problem solved

Functional benefit

Products and services

• Early-Stage Equity Investment
• Portfolio Management and Strategic Advisory

Quantifiable outcome

• 350+ portfolio companies supported
• +1 more outcomes

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators5 records

Recent moves4 records

Expansion highlights4 records

Direct peers

• BonAngels Venture Partners: Korean early-stage venture capital firm. Comparable in seed/pre-seed focus and Korean-domestic investment strategy.
• Altos Ventures: Korea-focused early-stage venture capital firm investing in technology startups. Directly comparable in stage focus and Korean market orientation.
• DSC Investment: Korean venture capital and growth equity firm listed on KOSDAQ. Comparable in domestic Korean investment focus across tech and growth stages.
• Hyundai Venture Investment: Corporate venture arm of Hyundai that co-invested with L&S in Coxwave. Directly comparable as a Korean investor in technology and mobility-adjacent startups.
• Kakao Ventures: Major Korean early-stage venture capital firm backed by Kakao. Highly comparable in stage focus (seed/Series A), sector breadth across Korean tech, and deal pace.
• Primer (formerly Primer Sazze): Korean early-stage venture capital firm investing in Korean tech startups. Comparable in stage focus and Korean market orientation.
• KDB Capital: Korean Development Bank's venture capital arm that participated in the Coxwave round with L&S. Comparable as a domestic Korean VC investing across similar sectors and stages.
• KB Investment: Korean venture capital and growth investor that co-invested alongside L&S in Coxwave's Pre-Series A. Comparable in stage focus, Korean market orientation, and institutional LP backing.

Broad incumbents

• SoftBank Ventures Asia: Asia-focused venture capital arm of SoftBank Group with significant Korean operations. Comparable in Korean tech investment focus but operates with substantially larger fund sizes and broader geographic reach.
• Korea Investment Partners: One of Korea's largest venture capital and private equity firms under Korea Investment Holdings. Comparable in domestic Korean focus but operates at significantly larger AUM across more stages and sectors.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments120 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about L&S Venture Capital