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Venture Capital
id-vc.com

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Investments

68

Portfolio Exits

5

Funds

2

About ID Ventures

ID Ventures, part of IP investment firm Intellectual Discovery, is an IP-based venture capital firm in Korea.

ID Ventures Headquarter Location

Vision Tower, 10F 312, Teheran-ro, Gangnam-gu

Seoul, 06211,

South Korea

+82 (02) 556-9300

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Latest ID Ventures News

8 GR tech startups selected for MEDC pandemic relief funds

Jun 25, 2020

BY Jayson Bussa Thursday, June 25, 2020 03:31pm On Thursday, the Michigan Economic Development Corporation (MEDC) announced 58 companies that would receive financial support ranging from $10,000 to $125,000. The fund is administered by ID Ventures in Detroit and designed to help companies trudge through the economic hardships brought on by the COVID-19 pandemic. The funds are intended to prop up these tech businesses, helping them to retain their workforce, advance vital high-tech research initiatives and support operating costs, in addition to meeting other critical needs. Greg Clark, Inductive Intelligence Grand Rapids-based recipients are Assemble Technologies, CertifID LLC, Eighty-Six Inc., Inductive Intelligence, The Patient Co., Sportsman Tracker, Towel Tracker and VNN Inc.  “We’re using the funds we received to make payroll and keep our technology development moving forward,” said Greg Clark, co-founder and CEO of Inductive Intelligence, which develops products that harness induction technology to heat and cook food and beverages. Clark did not disclose the amount his company received. “Invest Detroit’s support at this time is invaluable to a small startup company as ours, and their support of the broader entrepreneurial ecosystem is an enormous asset to us and the state,” he added. “We need more firms like Invest Detroit, if we want to keep young people, technology and startups in the state of Michigan.” The MEDC announced in April that ID Ventures would administer the fund, which was designated for companies with fewer than 50 employees and especially impacted by the economic impact of the pandemic. The fund garnered 214 applicants from around the state. “This outbreak presented unprecedented challenges for businesses of all sizes over the past three months, and we are proud to help support Michigan’s small businesses to not only survive COVID-19, but continue innovating long after,” MEDC CEO Mark A. Burton in a statement. “The technologies and discoveries these small businesses are pursuing will have an invaluable impact on our ability to strengthen and rebuild our state’s economy over the coming months as we work to enable economic prosperity across all corners of our state.” As criteria for choosing applicants, fund administrators looked for companies that demonstrated a strong customer value proposition, comprised a team with proven execution capability and were on a path for an additional round of funding before COVID-19 struck. Over half of the fund’s recipients specialized in advanced information, but the companies also belong to industries that included life sciences, mobility and advanced manufacturing. ADVERTISEMENT

ID Ventures Investments

68 Investments

ID Ventures has made 68 investments. Their latest investment was in UMAG as part of their Series A on May 5, 2022.

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ID Ventures Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

5/26/2022

Series A

UMAG

$4.04M

Yes

1

4/26/2022

Seed VC

Sirs

Yes

1

3/2/2022

Series B

Vasthera

$14.95M

No

1

1/19/2022

Series A

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$99M

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10

12/19/2021

Series A

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$99M

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10

Date

5/26/2022

4/26/2022

3/2/2022

1/19/2022

12/19/2021

Round

Series A

Seed VC

Series B

Series A

Series A

Company

UMAG

Sirs

Vasthera

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Amount

$4.04M

$14.95M

$99M

$99M

New?

Yes

Yes

No

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Co-Investors

Sources

1

1

1

10

10

ID Ventures Portfolio Exits

5 Portfolio Exits

ID Ventures has 5 portfolio exits. Their latest portfolio exit was Pet Friends on July 21, 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

7/21/2021

Acq - Fin

$99M

2

7/13/2021

IPO

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$99M

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10

6/12/2019

IPO

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$99M

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10

5/24/2019

Acquired

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$99M

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10

2/20/2018

IPO

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$99M

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10

Date

7/21/2021

7/13/2021

6/12/2019

5/24/2019

2/20/2018

Exit

Acq - Fin

IPO

IPO

Acquired

IPO

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

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Sources

2

10

10

10

10

ID Ventures Fund History

2 Fund Histories

ID Ventures has 2 funds, including IBKC-IDV High-Tech Fund.

Closing Date

Fund

Fund Type

Status

Amount

Sources

6/7/2022

IBKC-IDV High-Tech Fund

$36.63M

1

12/28/2012

IBKC-IDV IP Specialty Fund No.1

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$99M

10

Closing Date

6/7/2022

12/28/2012

Fund

IBKC-IDV High-Tech Fund

IBKC-IDV IP Specialty Fund No.1

Fund Type

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Status

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Amount

$36.63M

$99M

Sources

1

10

ID Ventures Team

7 Team Members

ID Ventures has 7 team members, including current Chief Executive Officer, President, Suk Whan Chang.

Name

Work History

Title

Status

Suk Whan Chang

Chief Executive Officer, President

Current

Sang K Yun

Executive Vice President

Current

Kenny S Chung

Managing Director

Current

Eun Sup Kim

Managing Director

Current

Klaus Maximilian Wegener

Managing Director

Current

Name

Suk Whan Chang

Sang K Yun

Kenny S Chung

Eun Sup Kim

Klaus Maximilian Wegener

Work History

Title

Chief Executive Officer, President

Executive Vice President

Managing Director

Managing Director

Managing Director

Status

Current

Current

Current

Current

Current

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