Startup Alliance hosted its first “Teheranno Funding Club” event and provided opportunities to introduce exemplary Korean venture capital firms to startup investors on February 1st. Speaker of the event, Softbank Ventures Korea CEO Greg Moon(Moon GyuHak) shared his thoughts on the company’s investment philosophy, portfolio and group culture.
Moon described current evaluations of Softbank Ventures Korea while introducing its founding backgrounds, investment areas, and investment scales. He revealed that since its foundation, the company has invested in startup companies at a variety stages of maturation while keeping interest in both foreign and domestic startups. He also stated that every successful investment involves a history of failure, and durable startups strive to transform crisis into success.
Moon emphasized the importance of finding accelerators and investors whose interests align with the company’s stage of maturation. Startups should approach investors after understanding whether the company is at a stage where it is mature enough to attract investors or still at an inchoate stage.
Moon provided three pieces of advice to startups facing difficulties approaching investors. First, they should try to be an attractive startup that investors seek first. As robust startups are engaging to investors even without advertisement, they grow the stability and quality of the firm. Second, they should participate in networking events and grow connections that befit the company’s stage of growth. These connections serve as bridges to next level investors once ready. Third, instead of cold canvassing a wide range of investors, they should try to receive referrals and recommendations before approaching investors.
When he was asked what some key attributes of becoming a successful venture capitalist are, he replied “understanding corporate management through personal experiences is most important. A person who is curious about one’s surroundings, who understands startup, and who has patience to wait for a startup’s long-desired success would be suitable.”
The host of this event and head of the Startup Alliance center Lim JeongWook stated, “startup companies and venture capitals form great partnerships that mutually benefit each other in startup ecology. He also said that the startup Alliance center will hold ‘Teheranno Funding Club’ every other week and will help close the gap between founders and investors.”
Softbank Ventures is a venture capital and a subsidiary of Softbank Korea, a holding company of Softbank Group in Korea founded in 2000. The company expertises in the ICT investment field with a strong basis on communications business.
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