After 11 years in Seongsu... Soopung Ventures moves its nest to Teheran-ro

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Impact investment firm Sofung Ventures has moved its base from Seoul's Seongsu-dong, where it had been established for 11 years, to Teheran-ro (Seolleung) in Gangnam, the heart of the startup ecosystem. This strategic move goes beyond a simple office relocation, signaling the company's full-scale commitment to scaling up impact investing.

According to the venture and startup industry on the 10th, Soeung Venture started operations at its new office on Teheran-ro since the 8th. Soeung Venture CEO Han Sang-yeop said, "While the space has changed, the essence of helping entrepreneurs who solve social problems remains unchanged."

Seongsu-dong has grown into the center of Korea's impact ecosystem, with impact investors and social ventures gathering in its red-brick alleyways. Soopung Ventures has continued its early-stage investment and acceleration activities based in this area.

This office relocation is described as both the tying of a chapter and the starting point for a new leap. Han Sang-yeop (CEO) emphasized, "Although it is a space filled with youth and passion, we have decided to boldly step away from familiarity once again for another leap forward."

Sofung Ventures was founded in 2008 by Lee Jae-woong, former CEO of Soca. After pursuing self-capital investments, it underwent shareholder restructuring in 2019 and transitioned into an independent investment firm, officially beginning fund management operations.

In 2020, it obtained the startup planner (AC·accelerator) license and in 2021 acquired the qualification as a TIPS (TIPS) management company. In January 2024, it registered as a venture investment company (VC·venture capital), expanding its investment scope from early-stage companies to pre-IPO stages.

Sofung Ventures is managing 11 funds as of the end of last year. Its assets under management (AUM) stand at 58.7 billion won, with a cumulative portfolio of 180 companies. Investment areas are broadly distributed across climate tech, ICT, healthcare, food tech, AI (artificial intelligence), and deep tech.

Last year, a total of 93 billion won was invested in 18 startups, with 58 percent concentrated on climate tech. Seed rounds accounted for 44 percent, Series B and below for 45 percent, and late-stage rounds from pre-IPO onward for 11 percent, achieving balance across investment stages.

There were also achievements in terms of recoveries. Last year, recovery operations for nine portfolios were conducted through European divestitures and mergers and acquisitions (M&A). Portfolio company BLQ was acquired by Jarvis & Villains, the operator of 'Samjeomsam', recording an investment return multiple of more than six times, and the first fund liquidation since its establishment was also completed.

Soopung Ventures aims to treat this office relocation as a turning point for the full-scale scaling up of impact investing. Han (CEO) had previously set a goal of breaking through 100 billion won in AUM this year.

It aims to strongly support the growth of portfolio companies by combining them with the rich infrastructure of Teheran-ro and to expand the boundaries of the ecosystem through cross-border collaboration.

Sofung Ventures has outlined three key directions regarding its future vision: deepening investment areas, providing overwhelming growth support to portfolio companies, and expanding large-scale and cross-border partnerships. Through these initiatives, the company plans to focus on connecting and extending the essence of social and environmental values beyond mere physical capital movement.

Han (CEO) said, "We are heading to Teheran-ro, where startup energy is swirling most intensely," adding, "I am already excited at the thought of facing another bold challenge unlike before. We ask for your great interest and cooperation in Picnic's next journey that connects values beyond capital."

[Money Today startup media platform 'Unicorn Factory']