Kiwoom Investment

What Kiwoom Investment does

Kiwoom Investment Co., Ltd. (키움인베스트먼트) is a South Korea-based venture capital firm founded in 1999 (originally as Korean IT Venture Investment, renamed 2007), operating as the venture capital arm of Daou-Kiwoom Financial Group with Kiwoom Securities holding 98.1% ownership. The firm manages blind-pool venture capital funds across Korea, Japan, and Singapore, deploying capital into startups and growth-stage companies in AI/Deep Tech, Bio/Healthcare, Consumer/Service, Contents, Fintech, and Manufacturing/Materials. Cumulative assets under management approach KRW 9 trillion (~USD 6.5B) across 47 funds, with 67 IPO exits since inception making Kiwoom one of Korea's largest domestic VCs.

The firm's revenue model is asset-management based: management fees on committed capital during fund investment periods (New Hero 4호 KRW 140B, New Hero 5호 KRW 141.4B, New Hero 8호 KRW 1.25T) and performance fees / carried interest upon portfolio exits. In 2024, operating revenue reached KRW 200 billion (+28% YoY) with operating profit of KRW 67 billion and net profit of KRW 59 billion (110%+ YoY growth). Limited Partners are institutional: policy banks (KDB, IBK), Korean Venture Investment 모태펀드, securities firms (Kiwoom Securities, DS Investment), and corporate investors. Recent exits via Kiwoom Growth 15호 Secondary Fund delivered IRR of 16% (vs. 7% hurdle) with 7.8x on Saekyung Hi-Tech and 4.6x on Fingger.

Recent strategic activity centers on mega-fund formation and cross-border expansion. The KRW 1.25 trillion Kiwoom New Hero 8호 Fund (June 2024) is the largest single blind-pool, the KRW 600 billion Kiwoom-DS Investment Bio Health Fund (April 2026) is the first sector-dedicated co-GP vehicle with DS Investment Partners, and the KRW 2 trillion+ Venture Hero MoFund (2026) is the firm's largest private venture fund-of-funds. International expansion includes Kiwoom Daou Japan Venture Fund 1 (JPY 3 billion, 2025) targeting Spiral Capital and Japanese VCs, and a Singapore FoF via Kiwoom Asset Management Asia. Kiwoom was the first Korean domestic VC to establish formal ESG investment principles (2022).

Name

Kiwoom Investment

Legal name

키움인베스트먼트 주식회사 (Kiwoom Investment Co., Ltd.)

Website

https://kiwoominvest.com

Company type

Private

Founded year

1999

Operating status

Operating

Headcount range

11–50 employees

Short description

Kiwoom Investment is a South Korean venture capital firm managing blind-pool funds across Korea, Japan, and Singapore, with AUM approaching KRW 9 trillion (~USD 6.5B) and 67 IPO exits since 1999. It serves institutional LPs (policy banks, securities firms, corporate investors) and deploys capital into AI, biotech, fintech, and materials startups.

Ownership category

akta.pro rank

Product category

Venture Capital / Private Equity Fund Management

NAICS

Portfolio Management and Investment Advice (52394), All Other Financial Investment Activities (52399)

SIC

Investment Advice (6282)

akta.pro primary industry

Venture Capital Fund-of-Funds / Multi-Manager Platforms (FSANAAAJ)

akta.pro secondary industries

Emerging Manager / Small Fund Secondaries (FSANAFAL), SDG / Thematic Sustainable Investment Funds (FSANAJAN), Regional / Country-Focused Multi-Manager Platforms (FSANAGAI)

Keywords

• Venture capital funds
• Blind-pool funds
• Startup equity investment
• Fund-of-funds management
• ESG venture investing

Headquarters

HQ city

Youidodong

HQ country

South Korea

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Management Fees: Kiwoom Investment earns management fees from its managed blind-pool venture funds. Fees are charged on committed capital during the fund's investment period. Key funds generating management fees include Kiwoom New Hero 4호 Scale-up Fund (KRW 140 billion), Kiwoom New Hero 5호 Digital Innovation Fund (KRW 141.4 billion), and Kiwoom New Hero 8호 Fund (KRW 1.25 trillion). Management fees were approximately KRW 89 billion in 2024, roughly consistent with prior year.
2. Performance / Carried Interest: The firm earns carried interest (성과보수) when portfolio companies achieve successful exits above the hurdle rate. In 2024, performance fees totaled KRW 54 billion, significantly up from KRW 18 billion in prior year, driven primarily by exits from 한영이노베이션펀드 제1호 (KRW 4 billion) and Kiwoom Growth 15호 Secondary Fund (KRW 1.3 billion). The Korean Han-Join Innovation Fund produced KRW 4 billion in management fees, with 넥스트바이오메디컬 among the key exits.
3. Equity Investment Returns: Returns from equity investments in portfolio companies via direct shareholdings. The firm reports partnership investment income as part of operating revenue, which reached KRW 200 billion in 2024, a 28% increase year-over-year, driven by expanded portfolio management income. Returns include distributions from realized exits such as 세경하이테크 (7.8x multiple on KRW 1.5 billion invested) and 핑거 (4.6x multiple on KRW 2 billion invested).

Go-to-market motion1 record

Distribution channels2 records

Marketing channels4 records

Core offering

Kiwoom Investment is a venture capital firm that raises blind-pool funds from institutional and corporate Limited Partners (policy banks, 모태펀드, securities firms, corporates) and deploys that capital as direct equity investments into Korean startups and as Fund-of-Funds into overseas VC managers. Its offerings span multiple fund vintages focused on AI/Deep Tech, Bio/Healthcare, Fintech, Semiconductors/Materials, Consumer/Service, and Contents, with fund sizes ranging from KRW 140 billion to KRW 1.25 trillion. The firm also operates overseas FoF vehicles in Japan and Singapore to access foreign VC deal flow.

Product overview

Kiwoom Investment (키움인베스트먼트) is a venture capital firm within the DaouKiwoom Financial Group. It operates as an SME startup investment company registered under the Venture Investment Promotion Act. The firm primarily manages multiple venture capital blind-pool funds organized by investment focus (technology innovation, digital innovation, fintech, scale-up, early-stage startup, etc.) and geography (Korea, Japan, Singapore). It does not offer a technology product platform or SaaS; rather, its services are fund management, direct and indirect startup investment, and portfolio management. As such, there are no discrete software products, modules, or platform offerings to enumerate. The firm's business is financial investment services rather than technology product provision.

Differentiator

Problem solved

Functional benefit

Products and services

• Kiwoom New Hero 8호 Fund (키움뉴히어로8호펀드) Blind-pool venture fund with KRW 1,250 billion in committed capital, anchored by KDB (KRW 400 billion) and IBK기업은행 (KRW 400 billion) plus 모태펀드 (KRW 250 billion), Seoul Metropolitan Government (KRW 100 billion), and Gyeonggi Province (KRW 80 billion). Targets scale-up and global supply chain response investments.
• Kiwoom-DS Investment Bio Health Fund (키움디에스투자바이오헬스펀드) Biotech-sector-dedicated blind-pool fund with KRW 600 billion in committed capital, co-managed with DS Investment Partners. The firm's first dedicated biotech vehicle.
• Kiwoom Daou Japan Venture Fund 1 (키움다우재팬벤처펀드1호) Japan-focused Fund-of-Funds with JPY 3 billion in committed capital, investing into Japanese VC funds (first deployment: Spiral Capital). Provides Kiwoom Investment with overseas deal flow and co-investment opportunities.
• Kiwoom Venture Hero MoFund (키움벤처히어로모펀드) Private venture Fund-of-Funds vehicle with planned total size exceeding KRW 2 trillion, managed via Kiwoom Asset Management Asia in Singapore for Southeast Asia and India VC exposure, plus Korea-focused deployment.
• Kiwoom Growth 15호 Secondary Fund (키움성장15호세컨더리투자조합) Secondary venture blind-pool fund of KRW 40 billion, anchored by KDB. Liquidated in 2024 with a 16% IRR (gross 15.54%, 1.5x multiple) versus a 7% hurdle rate, generating KRW 1.3 billion in carried interest.
• Korean Han-Join Innovation Fund (한영이노베이션펀드) Innovation-themed venture fund producing KRW 4 billion in management fees, with portfolio exits including Next Biomedical and Aptamer Science.
• Kiwoom New Hero 4호 Scale-up Fund and Kiwoom New Hero 5호 Digital Innovation Fund Thematic blind-pool venture funds totaling approximately KRW 281.4 billion (New Hero 4호: KRW 140 billion scale-up focus; New Hero 5호: KRW 141.4 billion digital innovation focus), generating recurring management fees during their investment periods.

Quantifiable outcome

• 67 IPO exits since establishment
• +5 more outcomes

Named customers15 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Sustainable Development Institute (지속가능발전소)minorStrategic or Co-development Partner · 8 February 2026AI-based ESG evaluation institution. Kiwoom Investment signed an MOU with Sustainable Development Institute to use its ESG evaluation checklist and incorporate ESG diagnostics in investment screening and post-investment monitoring. This partnership was part of Kiwoom's establishment of Korea's first VC ESG investment principles.

Scale indicators19 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Altos Ventures: Altos Ventures is a Korea-focused growth-stage VC with overlapping portfolio themes (AI, deep tech, bio) and similar check-size profile, frequently co-investing with Kiwoom in Korean Series A/B rounds.
• Midas Capital Partners: Midas Capital Partners is a mid-sized Korean VC firm with overlapping sector focus (AI, biotech, deep tech) and similar scale, investing in Korean startups with comparable check sizes and policy-fund LP relationships.
• Kakao Ventures: Kakao Ventures is a Korea-focused early-stage VC with comparable deal sizes and sector overlap in AI, content, and fintech, often co-investing with Kiwoom in Korean startups.
• Korea Investment Partners: Korea Investment Partners is Korea's largest domestic VC firm (AUM ~KRW 5+ trillion), directly comparable to Kiwoom in scale, fund-of-funds activity, and policy-bank LP relationships. Both firms anchor KDB/KVIC-backed blind-pool funds and invest across AI, bio, and deep tech.
• NH Investment & Securities (NH VC arm): NH Investment operates a venture investment arm comparable to Kiwoom as a securities-firm-affiliated Korean VC with similar LP base (policy banks, corporate investors) and overlapping portfolio themes in bio/fintech.
• DSC Investment: DSC Investment is a mid-to-large Korean VC (AUM ~KRW 2-3 trillion) within the DS Group, directly comparable as a securities-firm-affiliated VC participating in the same Korean Series A/B deals (e.g., Arc, BreezeBio) and pursuing parallel biotech and AI mandates.
• IMM Investment: IMM Investment is one of Korea's largest independent VC firms (AUM ~KRW 2 trillion), directly comparable in mid-to-late-stage Korean tech, bio, and platform investments, and historically competitive in the same Series A/B rounds.
• KB Investment: KB Investment is the VC arm of KB Financial Group with AUM exceeding KRW 5 trillion, directly comparable to Kiwoom as a financial-conglomerate-affiliated Korean VC with strong policy-bank LP access, multi-fund structures, and a focus on AI/bio/fintech.

Broad incumbents

• SoftBank Ventures Asia: SoftBank Ventures (Korea) is a globally-backed Korean VC with larger AUM and stronger late-stage capacity, overlapping with Kiwoom in early-to-growth Korean tech deals but operating at a broader international platform scale.
• Mirae Asset Venture Investment: Mirae Asset Venture Investment is the VC arm of Mirae Asset Financial Group (one of Korea's largest financial groups), comparable in scale and group-affiliation dynamics, but with a broader investment scope including buyouts and growth equity beyond VC.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/kiwoom-asset-management

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Funding overview

Funding rounds

Investors

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

M&A

Investments113 records

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

Frequently asked questions about Kiwoom Investment