SBI Investment Expands IPO Outcomes Through 'Follow-on' Investment Strategy
Venture capital (VC) firm SBI Investment announced on August 3, 2026, that it is expanding its initial public offering (IPO) outcomes through a 'follow-on' strategy, which provides additional funding to portfolio companies in which it has already invested.
SBI Investment identifies promising companies early and supports their growth by injecting extra capital at major inflection points such as technology commercialization, business expansion, and IPO preparation.
Nearthlab is a representative example of success through SBI Investment’s follow-on strategy after participating in its Series B round. SBI Investment joined the investment after recognizing the commercial references secured in the wind power inspection market and the potential to expand applications into areas such as defense. It subsequently invested an additional three times—Series C and pre-IPO rounds—supporting the company’s IPO preparation.
Innotech, which received an early-stage investment at the Series A round, is also cited as an example in which the follow-on strategy led to a successful IPO. Innotech is a specialized company in Cheonan focused on display, semiconductor, and multi-layer ceramic capacitor (MLCC) reliability environment testing equipment. As Innotech expanded its business, SBI Investment reconfirmed the company’s technological competitiveness and led a follow-on investment in the Series B round.
During challenging investment climates, the follow-on strategy served as a support for companies. In 2019, SBI Investment provided Series A funding to RNA-based genetic therapy developer Algynomics and continued to supply additional capital even when investment sentiment in the biotech sector was subdued due to COVID-19. Algynomics subsequently succeeded in out-licensing its technology to a global big pharma and went public on KOSDAQ in December of last year.
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A representative from SBI Investment stated, "Follow-on investment is not simply an additional supply of funds but an ongoing process to verify a company's technological capabilities, business execution, and market scalability after the initial investment.” The representative added, “Going forward, we will continue to supply necessary capital in a timely manner at each growth stage of promising portfolio companies and achieve shared success for both companies and investors.”
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