Startup Alliance held its second Teheranno Funding Club event on February 15th, an event that introduces exemplary Korean venture capital companies. Capstone Partners CEO Song Eunkang served as the speaker of the event and shared the company’s vision, investment portfolios and business advice for startups.
Song began his talk with remarks regarding the importance of the startup ecology within the Korean economy. He also introduced the vision and investment portfolios of Capstone Partners. According to Song, Capstone Partners formed a team of 6 experts and has invested in 53 startup companies over the course of 9 years based upon 8 funds, totaling around 268 billion KRW.
Song stressed that a good venture capital firm must understand the business of the startup, consistently support funds, and provide other values beyond the capital. Venture capitals need to study just as much as startups do especially by means of effective communication. Other than consistent supports through funds, Capstone Partners provides networking opportunities through events such as Partners Day, LP Day, and gathering venues for startups that are in the similar fields.
Song revealed that the company currently plans on initiating 30 new early-stage investments in 2017 as it has been constructing various investment portfolios every year.
Capstone Partners gave 3 advices to startups looking for investments. First, the startups must assume failure. Startups must not dread failures; instead, it should turn failures into opportunities to grow. Second, startups must have agility. Startups should have an aggressive attitude towards business products that may not be perfect yet. Third, good team work. The “who” is more important than the “what” for many startups. Song also noted, “as there are optimal times for each growth stage of the business, successful startups must have the ability to realize whether the time is optimal for the formation of the business, growth of the business or new investments.”
The second meeting of the Startup Funding Club gathered interest of entrepreneurs and many other related persons of the startup ecology. The host of this event and the director of Startup Alliance Lim JeongWook stated, “in order to achieve efficient investments, startups must understand how venture capital firms invest in companies.” He finally added, “this event provided an opportunity for many startup companies to learn about Capstone Partners, one of the most startup-friendly and supportive Korean venture capitals.”
Inspired by Platum