Stonebridge-Backed Allganize Lists in Japan, Kicking Off Exits from Its Japanese Portfolio

Japanese Portfolio Companies ENSAPIA and TimeTree Also Expected to Go Public

Allganize, an enterprise artificial intelligence (AI) company backed by KOSDAQ-listed venture capital firm Stonebridge Ventures, listed on the Tokyo Stock Exchange on November 4. Its listing is expected to mark the start of a broader wave of investment exits from Stonebridge Ventures’ cross-border portfolio in Japan.

Following Allganize, Stonebridge Ventures is watching the progress of its Japanese portfolio companies ENSAPIA (formerly Cocone) and TimeTree. All three companies were founded by Korean entrepreneurs, have proven their business performance in the Japanese market, and have grown on the strength of their local revenue bases.

ENSAPIA, founded by Chairman Cheon Yang-hyun, formerly of NHN Japan, is a leader in Japan’s social platform (CCP) sector. Built around its proprietary intellectual property (IP), including “Pokecolo” and “Livly Island,” ENSAPIA has demonstrated its ability to generate cash flow and maintain financial soundness, making it a portfolio company expected to command a large-cap valuation if it lists in Tokyo.

TimeTree, a calendar-sharing platform with more than 67 million users globally, is also considered a strong candidate for a listing. TimeTree is reportedly said to have selected Morgan Stanley, Daiwa Securities, and Mizuho Securities as underwriters. Last November, it completed a Series F round totaling ¥3.2 billion, including secondary transactions, led by SK Telecom, and is preparing to list on the Japanese stock market.

A Stonebridge Ventures representative said, “Allganize’s listing on the Tokyo Stock Exchange is a case in which our early efforts to identify global opportunities and create value have borne fruit. We will actively support our Japanese portfolio companies in achieving further success, including ENSAPIA, which has proprietary IP and a business foundation in Japan, and TimeTree, which has a global user base.”

This content was produced with the assistance of AI translation services.