KEB Hana secures 6% stake in Onmind, part of SK Square's porfolio
Jong Woo Kim
Nov 21, 2022 (Gmt+09:00)
The female virtual model Sua developed by Onmind (Courtesy of Onmind Inc.)
SK Square Co. announced on Monday that Onmind Inc., one of its portfolio companies, raised 2 billion won ($1.5 million) from KEB Hana Bank.
The active portfolio management company has a number of important SK Group subsidiaries, most notably SK Hynix Inc.
With the latest investment, KEB Hana Bank has secured a 6.25% stake in Onmind.
Onmind is the developer of three-dimensional virtual humans. It’s a subsidiary of Neptune, a game developer that is 35% owned by Kakao Games Corp.
The company is also the first company SK Square has invested in.
Onmind’s corporate value stood at 20 billion won last November when SK Square made an 8 billion won investment in it but KEB Hana set the corporate value at 30 billion won during this round.
SK Square is focusing its efforts on finding new companies to invest in and expanding the collaborative ecosystem within the SK Group, which has SK Inc. as the holding company.
SK Square's Managing Director Ryu Byung-hoon said, “The latest round of fundraising is an example of our portfolio companies rapidly raising their corporate values amid challenging macroeconomic conditions.”
Ryu added that SK Square will continue to proactively use the conglomerate’s collaborative ecosystem to expand the value of its portfolio companies.
Write to Jong Woo Kim at jongwoo@hankyung.com Jee Abbey Lee edited this article.