[Edaily Marketin Reporter YunJi Kim ] AJU IB INVESTMENT CO., LTD.(027360)posted its highest-ever operating profit in the first half of this year. Performance fees from fund management and the rise in value of investment assets such as SpaceX drove the strong results.

According to the Financial Supervisory Service’s electronic disclosure system on the 14th, AJU IB INVESTMENT CO., LTD.’s consolidated operating profit for the first half of the year totaled 46.2 billion won. Following an operating profit of 8.1 billion won in the first quarter, the company posted an operating profit of 38.1 billion won in the second quarter.

This improvement in earnings was driven by an increase in performance fees tied to fund performance. It also reflected unrealized gains from overseas investment assets, such as the U.S. space company SpaceX. Amid continued volatility in the KOSDAQ market, initial public offerings (IPOs) by some portfolio companies also contributed to improved conditions for capital recovery.

In the first half of the year, three portfolio companies—Kanaph Therapeutics Inc., IMBiologics Corp., and MEZOO Co., Ltd.—went public. Kanaph Therapeutics Inc. is a biotech company developing anticancer drugs and treatments for ophthalmic diseases, while IMBiologics Corp. is a developer of novel antibody-based drugs. MEZOO Co., Ltd. operates a business providing mobile, remote patient monitoring services.

New fund raising efforts are also continuing. AJU IB INVESTMENT CO., LTD. expanded its “Aju Good No. 4 PEF,” initially established in December of last year, to 316 billion won on March 31. It also newly established the “Aju iBridge Fund,” a 146.4 billion won project fund.

It was also selected as the lead general partner (GP) for the first phase of the National Growth Fund and is currently working to establish the “Aju Good Ultra-Competitive Scale-Up 2.0 Fund.” The fund’s maximum target size is 200 billion won. As a result, AJU IB INVESTMENT CO., LTD.’s AUM as of the end of the first half of the year increased to approximately 2.5 trillion won, and is expected to expand to around 2.7 trillion won once the formation of the “Aju Good Leapfrog Scale-up 2.0 Fund” is finalized.

In the second half of the year, opportunities for exit through IPOs of portfolio companies are expected to increase further. Following the listing of digital healthcare company Lemon Healthcare in July, Fashion Platform Co.,Ltd. also went public on the 12th of this month.

In addition, Davio, a spatial information iA, Inc.; PGT, a specialty fine chemicals firm; and MBD, an organoid-based precision medicine company, are currently undergoing the listing process. Nexi, a developer of immuno-oncology drugs, is also preparing to file for a preliminary listing review in the second half of the year.

Kim Ji-won, CEO of AJU IB INVESTMENT CO., LTD., stated, “The more volatile the market, the more important it is to have the investment capability to carefully evaluate the fundamentals and growth potential of portfolio companies,” adding, “We will continue to generate strong returns by simultaneously investing in growth industries such as AI, biotech, and aerospace, as well as high-quality overseas assets.”