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IBK Industrial Bank of Korea's venture capital (VC) subsidiary, IBK Venture Investment, has welcomed Shin Dong-won, former CEO of STL Partners, as its second top executive, launching a new initiative to scale up operations. Taking over the baton from Jo Hyo-seung (CEO), who laid the foundation during the company's early days as its inaugural representative, IBK Venture Investment is expected to accelerate its full-scale growth, including expanding assets under management (AUM).
According to the VC industry on the 12th, IBK Venture Capital has recently appointed former ESTL Partners CEO Shin Dong-won as its new representative director. This personnel change follows the expiration of the term of Jo Hyo-seung Jeon (CEO), who led the company's initial stabilization since its launch in 2023. The appointment reflects the firm’s management philosophy and direction, as it has successively hired experts with deep experience in the private equity fund (PEF) market.
Following Jo Jeon (CEO), who was an expert in mergers and acquisitions (M&A) advisory and corporate restructuring (CRC), Shin (CEO) also possesses strengths in the private equity (PE) sector, including M&A and buy-outs.
New CEO Shin Dong-won built his career at Hanwha Investment (now Hanwha Investment & Securities) and the SBI Investment PE division. In 2016, he co-founded the independent private equity (PE) firm STL Partners with Lee Yong-i (CEO), a former colleague from both companies.
Industry observers interpret this personnel change as a signal that IBK Venture Capital is moving past its establishment phase to embark on full-scale expansion. As a latecomer among bank-affiliated venture capital firms, it is expected to focus on expanding the size of its funds and increasing assets under management (AUM).
In particular, Shin (CEO) is expected to achieve synergy by reuniting with Cho Kyu-hoon, head of the investment division (CIO), whom he worked alongside during his tenure at SBI Investment. With Cho, who hails from the Venture Investment Division 2, and Shin (CEO), who comes from the PE Division, joining forces once again, the speed and efficiency of investment decision-making within the organization are expected to be further strengthened.
As of now, IBK Venture Capital, which has established a total of four venture investment funds through last year, manages assets under management (AUM) of approximately 203.5 billion won. Given its early-stage house characteristics and limited track record, it has relied on co-management (Co-GP) to compensate; based on the achievements accumulated so far, it is expected to proceed with establishing venture funds independently.
Meanwhile, Cho Hyo-seung Jeon (CEO), who has completed his term, is recognized as a key figure in the launch and initial stabilization of IBK Venture Investment. Cho Jeon (CEO) is evaluated for having laid the foundation for the newly established house, IBK Venture Investment, based on his career experience, which includes graduating from Seoul National University's Department of Economics, serving as CEO of Hanlim Venture Capital, holding positions at Mirae Asset Securities Gi Eop-geum-yung (Head), acting as Head of the PE Division at Woori Asset Management, and working at SKS PE.
[Money Today Startup Media Platform Unicorn Factory]
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