On the 15th, Mashup Ventures announced its major investment performance and performance indicators for 2024. Since its establishment in 2013, Mashup Ventures has made initial investments in 192 startups, including Today's House, My Real Trip, Remember, Noom, Cashwalk, Shifty, and Blimongies. It is an investment firm run by partners who are founders, including CEO Lee Taek-kyung.
In 2024, Mashup Ventures invested a total of 7.5 billion won in 25 companies, breaking the record for the largest annual investment. The investment ratio was 54% in the AI field and 33% in the SaaS field, focusing on early-stage startups centered on software. Mashup Ventures is known as an investment firm with the strength of providing systematic follow-up support even after investment.
In particular, companies invested by Mashup Ventures have achieved remarkable global results. 'Bibble', an AI virtual production platform, attracted seed investment of $4.75 million (approximately 6.5 billion won) from Basis Set Ventures and Pica Ventures, U.S. deep tech investment firms. Bibble is making full-scale inroads into the U.S. market by securing major customers such as Hollywood production companies and video AI companies.
In addition, generative AI webtoon production company 'Ryan Rocket' achieved the result of having webtoons produced based on its own image-generating AI technology, 'Genverse', enter the top 10 on major domestic platforms. Ryan Rocket is planning to make a full-fledged entry into overseas markets such as Japan and the United States in 2024.
Mashup Ventures was recognized as an excellent operator at the TIPS 10th Anniversary Commendation Ceremony and received the Minister of SMEs and Startups Award. Last year, Mashup Ventures recommended 13 companies to TIPS and 2 companies to Deep Tech Tips, and were finally selected. The TIPS selection rate of the recommended companies reached 100%. In addition, the Indian K-beauty platform 'Blimong Kids', which was selected for the TIPS program through Mashup Ventures' recommendation, achieved annual sales of approximately USD 23 million (approximately KRW 33 billion) in 2024.
Lee Taek-kyung, CEO of Mashup Ventures, said, “We viewed the investment cold spell as an opportunity rather than a crisis, and expanded follow-on investments in existing portfolio companies and executed the largest-ever investments.” He added, “This year as well, we will actively discover promising startups with global competitiveness based on Mashup Ventures’ firm investment philosophy.”
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