[CVC 전성시대]④ 2nd and 3rd generations of the owner’s family who are active as venture capitalists

Management class in the group finance and planning department is an old saying
Served as CEO/Junior Judge
Searching for investment by running on your own
Also plays a role in discovering new business for the group
Management and Investment Ability Test Bench

editorial commentThe status of corporate-led venture capital (CVC) is changing amid market stagnation. Until now, there has been a strong tendency to perceive it as a ‘second group’ behind general venture capital (VC), but it is quickly establishing itself as a major player in the venture investment market. At a time when it is difficult to raise funds, it is on a winning streak with support from various affiliates, including the parent company. We are reducing the burden of fundraising by securing various investors (LPs). While VCs are continuing their conservative investment stance, they are actively engaging in investment activities and invigorating the investment ecosystem. Asian Economy examines the aspects of CVC and predicts the future of the venture investment market.

[아시아경제 이광호 기자] With the emergence of CVCs one after another, the children of various companies’ owner families are attracting attention as they act as venture capitalists. In the past, it was common to take management classes in the group finance and planning department. In many cases, after gaining practical experience in a specific business unit, they rose to executive positions. Recently, starting a career in an investment company has become a trend.

They are not bound by the existing equation of going through the management succession process within the group. He is expanding his insights while conducting venture investment activities in various investment companies, such as group affiliates or external independent VCs. It is evaluated that he is building his skills by actively utilizing personal networks he has secured through studying abroad.

Many owners are calling for new businesses as they are unable to secure a growth engine in the existing industry. There is also an analysis that there is a paving stone to pass on management rights after planting the DNA of a new business in their children early on. In the future, it is expected that the investment company will be used as a succession tool, and if the child records an exit (return of investment) performance, it will be possible to secure some succession funds.

GS Group owns two CVCs. GS Ventures is overseen by Vice President Huh Joon-nyeong, who was in charge of investment and mergers and acquisitions (M&A) at Mirae Asset and UBS. At one time, he was misunderstood because he was Mr. Heo, but he is an outsider. On the other hand, GS Futures CEO Huh Tae-hong is the second son of former GS E&C Vice Chairman Huh Myung-soo, who is the older brother of GS Group Chairman Heo Tae-soo.

After graduating from Aiglong College in Switzerland and Georgetown University in the U.S., he worked as a venture investment team manager at GS Home Shopping and accumulated venture investment experience for seven years. Recently, he bet on ‘Boston Materials’, an American materials and parts company, considering the direction of GS Group’s business. He is steadily investing and developing his management skills.

Hong Jeong-hwan, the eldest son of Bokwang Venture Investment Chairman Hong Seok-joon, is in charge of investment review for Bokwang Venture Investment. He also drew attention by marrying Suh Kyung-bae, the eldest daughter of Amore Pacific Chairman Suh Min-jung. He is looking into various industries, such as investing in Smart Study, which is famous for Baby Shark in Pinkfong, a content for children.


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Vice President Kim Dong-joon, the eldest son of Dawoom Group Chairman Kim Ik-rae, has been the CEO of Kiwoom Investment since 2018. He has been consistently active in the venture investment market. Since last year, he has concurrently held the position of CEO of Kiwoom Private Equity (PE), a private equity fund (PEF) management company that runs larger amounts of money than VCs. He oversees the entire investment process from start to finish.

There are also a significant number of junior-level investment judges. Park Jun-beom, the eldest son of Mirae Asset Financial Group Chairman Park Hyun-joo, works as an investment reviewer for Mirae Asset Venture Investment. It is affiliated with Venture Investment Headquarters 1, led by Mirae Asset Venture Investment Vice President Chae Jung-hoon. He took his first steps in venture capital (VC), not core affiliates such as Mirae Asset Securities and Mirae Asset Asset Management.

Park Sung-chan, the son of Danal Chairman Park Hyuk-jin, who achieved the first-generation venture success story in Korea, is working as an investment reviewer at Laguna Investment. After graduating from the Department of Music Management at the Berklee College of Music, Park joined Laguna Investments after passing through the SKS PE alternative investment team. He invested in Meraki Place, the operator of the non-face-to-face medical treatment application “My Own Doctor”.

Lee Min-ho, son of Seoul Semiconductor founder Lee Jung-hoon, joined Seoul Management Partners, a VC established by Seoul Semiconductor and Seoul Viosys with 55% and 45% of the capital invested, respectively. After majoring in design at an American university, Judge Lee joined Seoul Semiconductor in 2009 as an assistant manager in the finance and accounting group. Since then, he has worked in the Strategy Office and has recently been reborn as a venture capitalist.

Gu Yeon-je, the second daughter of LX Holdings Chairman Koo Bon-joon, is also running as a judge. He received a master’s degree in Performing Arts Management from Ewha Womans University. Afterwards, he joined Magellan Technology Investment as a team leader after completing his internship at LB Investment, a venture capital company classified as Bum He. He mainly focuses on the fields of content, retail and lifestyle. Currently, LX Holdings is preparing to establish CVC.

Investment activities outside of investors are also attracting attention. Lee Seung-hun, son of Umi Construction Vice Chairman Lee Seok-joon, works as a manager of the investment business team and invests in proptech startups. Vice President Huh Hee-soo, the second son of SPC Group Chairman Heo Young-in, joined Sect9, a group affiliate specializing in new businesses, and started investing in quick commerce and metabus fields. In addition, the children of various owner families are keen on investing.

A judge who works with the children of an owner’s family said, “There are some parts that I am cautious about as rumors spread in the industry, but there are more positive aspects.” same,” he said.


Reporter Lee Kwang-ho [email protected]


Source: 아시아경제신문 실시간 속보 by www.asiae.co.kr.

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