[Edaily Marketin Soyoung Park Reporter] SV INVESTMENT CORPORATION(289080)is expected to reap the full benefits of its investments in the second half of the year. This is because five of its domestic portfolio companies are preparing to list on the KOSDAQ market, raising expectations for an exit (return on investment). These companies are currently undergoing the technology-based listing process. All of them have passed the technology evaluation conducted by specialized institutions. They have either received preliminary screening approval or are awaiting review. Once the listing process is complete, the returns on investment are expected to become tangible.

According to the domestic investment banking (IB) industry on the 4th, Lablup—an artificial intelligence (AI) infrastructure management platform company and one of SV Invest’s portfolio companies—recently received preliminary review approval from the Korea Exchange (KRX) for its KOSDAQ listing.

Lablup acts as a control tower that enables AI developers to efficiently share expensive GPU servers. Prior to filing for preliminary review for its listing, the company received an “A” rating from both of the specialized evaluation agencies. The company plans to invest the funds raised through the listing in research and development and infrastructure expansion. It also intends to expand its overseas operations, focusing on North America, Japan, Southeast Asia, Europe, and the Middle East.

In addition, three portfolio companies—△TNE Korea, △Enki Whitehat, and △Innovo Therapeutics—have passed their technology evaluations and are currently awaiting the results of their preliminary reviews. Among them, TNE Korea is a manufacturer of eco-friendly industrial blowers (turbo blowers). Going beyond its existing wastewater treatment turbo blowers, the company is expanding its business into the fuel cell and aviation sectors using high-speed turbomachinery technology.

Enki Whitehat is a white-hat hacking solutions company. Based on a global white-hat hacking database (DB), the company is expanding its business into △automated penetration testing, △attack surface management, △AI-powered hacker solutions, and △cyber defense (including anti-drone control takeover). The company plans to use funds raised through its future IPO to strengthen investments in core infrastructure and research and development (R&D). Through these efforts, it aims to become Asia’s leading offensive cybersecurity company.

InnoBo Therapeutics is a biotech company developing AI-based synthetic new drugs. Specifically, it utilizes its proprietary AI platform, “Deep Zema,” to develop synthetic new drugs for immune and inflammatory disorders, fibrosis, and cancer. The company pursued an IPO to accelerate the clinical development of its key pipeline and expand commercialization efforts, including global technology transfers.

In addition, BreezeBio (formerly GeneEdit), a U.S.-based gene therapy delivery platform company in the SV Invest portfolio, recently passed a technology evaluation. It received A and AA ratings from the Korea Technology Finance Corporation and the Korea Research Institute of Bioscience and Biotechnology, respectively. The company plans to apply for a preliminary review for a KOSDAQ listing with the Korea Exchange within six months.

According to the Korea Exchange’s corporate disclosure website (KIND), the number of companies listed under the Technology Evaluation Exemption and Growth Potential Exemption categories has shrunk from 42 in 2024 to 35 last year and 12 this year. This is interpreted as a significant reduction in the number of listed companies due to the raised bar for substantive technology-based listing reviews following the FADU INC. incident. Furthermore, the technology assessment—the first hurdle—is becoming more rigorous as actual sales and commercialization, in addition to technological potential, have become key evaluation criteria.

An SV Invest official stated, “Despite the low pass rate for technology evaluations by specialized assessment agencies due to stricter marketability criteria, 100% of our portfolio companies pursuing listings this year have passed the technology evaluation,” adding, “If the subsequent listing procedures are successfully completed, this is expected to have a positive impact on the profits of the relevant funds and companies.”