SBI Investment Posts 277% Year-on-Year Increase in Operating Profit for First Half of the Year
Venture capital (VC) firm SBI Investment continues to maintain a solid profit trajectory, backed by major portfolio exits and stable management and performance fee income.
SBI Investment announced on August 14 that it recorded operating revenue of KRW 13.3 billion, operating profit of KRW 7.6 billion, and net profit of KRW 7.5 billion in the first half of this year. Compared to the same period last year, these figures represent increases of 69.2%, 277.4%, and 270.9%, respectively.
The strong results are attributed to successful exits from key portfolios, including Genomix and NBR Motion. SBI Investment made an early investment in Genomix in 2019, before RNA technology gained widespread attention. Genomix further validated SBI Investment's investment capability by signing a technology transfer agreement with a global pharmaceutical company. The company also achieved notable exit results in the first half of this year through NBR Motion, which had been an investment target for eight years.
Stable profits were further supported by management and performance fee income generated from KRW 1.5 trillion in assets under management (AUM). Management and performance fee revenue in the first half of this year reached KRW 7.7 billion, up 36.7% from the same period last year. SBI Investment plans to further strengthen its stable income base in the second half of this year through additional fundraising.
Additional earnings momentum is expected. AI autonomous drone company Nearthlab recently held a public subscription for its KOSDAQ listing, and other key portfolio companies such as Yeonggwang YKMC are also preparing to go public.
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An SBI Investment official stated, "We are achieving investment and exit results based on a stable revenue structure," adding, "As our sound profit structure and improvement in financial health have become clear, we will continue to enhance our corporate value going forward."
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