[Edaily Reporter Kwon Oh Seok ] SBI Investment KOREA Co., Ltd.(019550), a domestic venture capital firm, announced on the 3rd that it is boosting its IPO track record through a “follow-on” strategy that involves continuously providing funding to its existing portfolio companies. The company noted that the effectiveness of its follow-on investments is becoming evident, as Nearslab, a company specializing in AI-powered autonomous drones, passed the preliminary screening for a KOSDAQ listing, and INNOTECH Co.,Ltd, a company specializing in inspection equipment for foldable displays and automotive OLEDs, made its debut on the KOSDAQ market.

SBI Investment KOREA Co., Ltd., established in 1986, is a leading domestic venture capital firm with 39 years of experience. It formed the Small and Medium Enterprise Startup Investment Fund (now the Venture Investment Fund) in 1987 and became the first in the industry to successfully list on KOSDAQ in 1989.
First, Nearslab is cited as a prime example of how SBI Investment KOREA Co., Ltd.’s follow-on strategy has yielded tangible results. Noting the commercialization track record established in the wind power inspection market and the potential for expansion into defense and other sectors, SBI Investment KOREA Co., Ltd. participated in the Series B round and continued its investment across three rounds in total, including Series C and the pre-IPO round. Through this, the firm supported the company’s technological advancement, market expansion, and the entire IPO preparation process.
INNOTECH Co.,Ltd is another company where the follow-on strategy led to a successful IPO. SBI Investment KOREA Co., Ltd. made a proactive Series A investment in INNOTECH Co.,Ltd—a company specializing in composite reliability environmental testing equipment for displays, semiconductors, and MLCCs—highly valuing its status as an innovative company based in Cheonan and its growth potential. Subsequently, as the company expanded its business, SBI Investment KOREA Co., Ltd. reaffirmed its technological competitiveness and led the follow-on Series B investment; INNOTECH Co.,Ltd’s successful listing on KOSDAQ demonstrated SBI Investment KOREA Co., Ltd.’s ability to identify promising early-stage companies and make sound follow-on investment decisions.
Rznomics Inc., a developer of RNA-based gene therapies, is also cited as a follow-on investment case. SBI Investment KOREA Co., Ltd. invested in Rznomics Inc. during its Series A round in 2019, before the related technology garnered market attention, and injected additional capital even during a period when investment sentiment in the biotech sector was subdued due to the COVID-19 pandemic, based on its high assessment of the company’s technological competitiveness and growth potential. Rznomics Inc. subsequently secured a technology transfer deal with a major global pharmaceutical company and successfully listed on KOSDAQ in December 2025.
In this way, SBI Investment KOREA Co., Ltd. has accumulated investment experience across various growth stages by managing a diverse portfolio spanning biotech, materials, parts, and equipment, as well as physical AI, over the long term. The firm explains that it uses this foundation to identify targets for follow-on investments, creating a virtuous cycle that leads to business expansion and successful IPOs. In fact, with INNOTECH Co.,Ltd. and Rznomics Inc. listing on KOSDAQ in quick succession and Nearslab passing its preliminary listing review, the results of the follow-on investment strategy are becoming fully evident.
A SBI Investment KOREA Co., Ltd. official stated, “Follow-on investment is not merely a matter of providing additional capital; it is a process of continuously verifying a company’s technological capabilities, business execution, and market scalability following the initial investment.” The official added, “Going forward, we will continue to provide the necessary capital at the right time, tailored to the growth stages of our promising portfolio companies, and create outcomes where both the companies and investors grow together.”