Base Ventures, a venture capital firm specializing in ultra-early-stage startups, has released its 2025 investment outlook. Last year, Base Ventures invested a total of KRW 28.1 billion in 31 startups. Despite a weakening investor sentiment from 2022 to 2024, the firm continued its investment strategy with an average of over 30 investments annually, and continues with 31 investments in 2025.
Of the 23 new investments, 87% were first-time institutional investors, with overseas corporations accounting for 43%. Deep tech companies accounted for 34% of investments. The company is expanding its investments in startups in AI software, physical AI, and fashion and beauty brands.
Major investment companies include AI virtual fashion fitting startup Love & Fury, AI defense tech startup Bone, global fashion brand Post Archive Faction, AI surgical co-pilot developer IQ Surgical, and next-generation EUV pellicle developer NCF Tech.
The proportion of follow-up investments has also increased. Follow-up investments now account for nearly half of total investment, part of a strategy to focus additional funding on companies with proven growth potential following initial investments. Key companies receiving follow-up investments in 2025 include Solomon AI, a US-based developer of AI tax solutions; V1C, developer of Clove AI, an AI financial accounting and operating system; Medical AI, an electrocardiogram-based AI diagnostic startup; Pensieve, an AI education platform; and Gravity Labs, a global healthcare platform.
Base Ventures plans to launch a new venture fund, Base Uptempo Venture Investment Association, by the end of 2025, as well as the Patriot Fund, a joint venture fund with EO focused on investing in global, ultra-early-stage startups. Since being selected as the operator of TIPS, Base Ventures has produced companies selected for the Global TIPS program. Furthermore, it operates a program that provides up to $350,000 in credit to portfolio companies through partnerships with global tech companies such as Google Cloud Platform, Amazon AWS, Microsoft Azure, OpenAI, and Anthropic.
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