Domestic venture capital (VC) SV Investment announced on the 15th that its operating loss and net loss for the first quarter of this year were provisionally recorded at 6 billion won and 5.2 billion won, respectively. Both figures turned to losses compared to the same period last year.
SV Investment noted, "The decline in fair value has led to a decrease in profits." It appears that the recent deterioration of the domestic stock market has reduced equity method valuation profits.
Revenue for the first quarter was 21 billion won, down approximately 8.6 billion won (29.16%) compared to the same period last year (29.7 billion won).
Meanwhile, SV Investment is currently in the process of forming a fund worth 200 billion won. Recently, it was also selected as a delegated management company (GP) for the innovation industry fund conducted by the Korea Development Bank.
SV Investment's third fund has shown rapid results, recovering about 70% of the invested principal in just over five years since its formation. It notably includes ably, a company that became a unicorn last year, in its portfolio, raising expectations for high performance.