VC Practice: West to East


Here is my recent update. I was working with a leading online game publisher, called CJ Internet, affiliated with the CJ Group, a large food & entertainment conglomerate to serve my military obligation last two years. (Every male Korean citizen has to serve army for certain capacity.) Prior to that, I was holding an executive director role with an int’l VC firm called BINEXT Capital and heading off its Silicon Valley Office. I directly invested into 6 companies in the Silicon Valley and there were 3 exit events as of last December. Anyhow, I left CJ Internet last January and started working back in the venture capital business. Only difference was that I’ve started my own firm instead of going back to my past employer. I still manage good relationship with BINEXT and other investors.

So, now, I’m on my own and I started a new firm called Megalos Asteria & Co. (It means precious big stone in Greek.) My pitch is quite simple. I will work with early stage companies in digital interactive media and alternative energy (as my primary focus) and accelerate their growth so that they can fully realize their values in the next round of funding and eventually go public. As an independent venture capitalist, I will try to find a deal at a fairly reasonable value and manage risk throughout life cycle of the capital partnership on behalf of investors. Territory-wise, I’m trying to cover cross-border deals such as technologies or business models applicable overseas. I’m currently recruiting opportunities in Seoul. Life in Seoul is quite different from the Silicon Valley. Though, it isn’t too bad at all. It’s a busy metropolitan city like NYC. Though, Korea has serious innovators and active consumer groups who are open to new idea and who are willing to pay for extra dollar for it. Seoul is an early adopters’ heaven.


[Samsung-dong Area in Seoul]

I’m starting my VC practice quite small but eventually I’m hoping to create an umbrella company managing a number of PE/VC partnerships and alternative investment vehicles in the next few years. Having said that, I’m currently looking for partners, liaisons, and advisors to share more ideas and to establish strong ties in the industry. It would be great to find a common ground with someone who can help each other and, maybe, share some resources like our brain power, domain expertise, and local knowledge.