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Venture Capital
FINANCE | Investment Firms & Funds
bonangels.net

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Investments

154

Portfolio Exits

11

Funds

6

About BonAngels Venture Partners

BonAngels Venture Partners is an early-stage venture capital firm located in Korea. BonAngels also makes angel investments.

BonAngels Venture Partners Headquarter Location

Seoul,

South Korea

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Latest BonAngels Venture Partners News

EU edtech startup Novakid raises seed funding from S Korean VC firm BonAngels

Aug 21, 2019

Photo: Ben Mullins/Unsplash August 19, 2019 EU edtech startup Novakid has raised $750,000 in seed funding from South Korean venture capital firm BonAngels Venture Partners , bringing Novakid’s funding to $1.5 million to date, according to a top executive of the firm. Novakid is an elementary school for children between the age group of 4 and12. The startup allows kids to remotely learn English, with teachers from the US and Great Britain using a syllabus that corresponds with the European Standards CEFR. Novakid is incorporated in the US with headquarters in EU (Krakow, Poland). Its largest markets currently are Poland, Spain, Turkey and Russia. “The fresh funds will be used for technology development, specifically Novakid data-driven curriculum and expansion to new markets,” Max Azarov, co-founder and CEO, Novakid, told DealStreetAsia in an interaction. The startup wants to foray into Spain in 2019 and do a test run in select Asian markets in 2020. “Only BonAngels has participated, but we have agreed to keep the round open until mid-Nov 2019. We are in talks with several potential investors,” said Azarov. Novakid is a subsidiary of Cloudike Inc whose backers include BonAngels, MDI Ventures from Indonesia, and Colopl Next from Japan. Novakid’s goal is to learn from the success of similar services offered in China and Asia by a slew of firms including unicorn startup VIPKid that cater to the European and Middle-Eastern markets. Currently, Novakid has students from 36 countries. BonAngels was set up as one of the initial early-stage venture capital firms in South Korea by BG Chang, founder of Bluehole (PUBG), Simon Kang and Inae Song. Last year, it announced the launch of a $50 million fund for investing in early-stage startups. The $50 million third fund follows its predecessor funds – BonAngels Pacemaker Fund 1 ($22 million) and BonAngels Pacemaker Fund 2 ($30 million). The third fund ups total capital under the management of the firm to $100 million.

BonAngels Venture Partners Investments

154 Investments

BonAngels Venture Partners has made 154 investments. Their latest investment was in Fapis as part of their Seed VC - II on May 5, 2022.

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BonAngels Venture Partners Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

5/16/2022

Seed VC - II

Fapis

$0.86M

Yes

2

5/3/2022

Series A

Ship-Da

$5M

No

1

4/19/2022

Seed VC

Groo

Yes

1

2/28/2022

Series B

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$99M

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10

2/17/2022

Seed VC

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10

Date

5/16/2022

5/3/2022

4/19/2022

2/28/2022

2/17/2022

Round

Seed VC - II

Series A

Seed VC

Series B

Seed VC

Company

Fapis

Ship-Da

Groo

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Amount

$0.86M

$5M

$99M

New?

Yes

No

Yes

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Co-Investors

Sources

2

1

1

10

10

BonAngels Venture Partners Portfolio Exits

11 Portfolio Exits

BonAngels Venture Partners has 11 portfolio exits. Their latest portfolio exit was Thingsflow on June 29, 2021.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

6/29/2021

Acquired

3

5/18/2021

Acquired

1

5/11/2021

Acquired

$99M

10

5/11/2021

Acquired

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10

3/25/2021

IPO

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10

Date

6/29/2021

5/18/2021

5/11/2021

5/11/2021

3/25/2021

Exit

Acquired

Acquired

Acquired

Acquired

IPO

Companies

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Valuation

$99M

Acquirer

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Sources

3

1

10

10

10

BonAngels Venture Partners Fund History

6 Fund Histories

BonAngels Venture Partners has 6 funds, including Bon Angels Venture Partners Fund 3.

Closing Date

Fund

Fund Type

Status

Amount

Sources

10/30/2018

Bon Angels Venture Partners Fund 3

Early-Stage Venture Capital

Closed

$50M

1

10/22/2018

BonAngels Pacemaker Fund 3 (본엔젤스페이스메이커펀드3)

$99M

10

11/26/2015

Bon Angels Venture Partners Pacemaker Fund 2

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$99M

10

9/3/2013

Bon Angels Venture Partners Pacemaker Fund

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$99M

10

Bon Angels Venture Partners Fund 4

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10

Closing Date

10/30/2018

10/22/2018

11/26/2015

9/3/2013

Fund

Bon Angels Venture Partners Fund 3

BonAngels Pacemaker Fund 3 (본엔젤스페이스메이커펀드3)

Bon Angels Venture Partners Pacemaker Fund 2

Bon Angels Venture Partners Pacemaker Fund

Bon Angels Venture Partners Fund 4

Fund Type

Early-Stage Venture Capital

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Status

Closed

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Amount

$50M

$99M

$99M

$99M

Sources

1

10

10

10

10

BonAngels Venture Partners Team

1 Team Member

BonAngels Venture Partners has 1 team member, including current Chief Executive Officer, Byung Gyu Chang.

Name

Work History

Title

Status

Byung Gyu Chang

Chief Executive Officer

Current

Name

Byung Gyu Chang

Work History

Title

Chief Executive Officer

Status

Current

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