Crypto Exchange Upbit Operator Dunamu Invests $46M USD Into 26 Blockchain Startupsbr>
South Korean FinTech firm Dunamu, operator of crypto exchange Upbit, has revealed that it has invested more than KRW 55 billion ($46M USD) in blockchain-related statups.
In March 2018, Dunamu announced a three-year plan to invest a total of KRW 100 billion ($84M USD) into the blockchain industry. At the time, the Kakao-backed company said it will invest in blockchain startups tackling areas that include data analytics and management, artificial intelligence (AI) and FinTech via mergers and acquisitions as well as equity investment.
In a press release, Dunamu said that it has invested in 26 companies during the past year, carried out through its investment subsidiary Dunamu & Partners. Initial portfolio includes Terra, a next generation payment network based on price-stable cryptocurrency, Rainist, which manages over KRW 87 trillion in customers’ financial data via its Bank Salad personal financial management platform, and Dalcom Soft, best known for their global Superstar rhythm game series. Others include P2P lending platform Honest Fund, online OTA service Tide Square, blockchain-based global investment platform Finhaven, and MCN company Sandbox Network.
This year, Dunamu & Partners is planning to focus on three investment micro-trends – mainstream adaptation of blockchain-based services, emergence of mobile FinTech services due to evolving financial regulations, and personal branding business opportunities centered around individual content creators.
Ryan Lee, CEO of Dunamu and Partners, said that their goal is to contribute to the healthy growth of the blockchain ecosystem by actively investing in startups with world class technology and services with potential for real-life implementation.
“Dunamu and Dunamu & Partners’ strategy of identifying and investing in innovative tech and finance startups, regardless of size, stage, and region, will continue in 2019,” Lee said.