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August 23, 2019

Dunamu invests $46m in blockchain startups in 2018

PUBLISHED : May 15, 2019 - 17:22

UPDATED : May 15, 2019 - 17:22

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Dunamu, operator of global cryptocurrency exchange Upbit, announced on May 15 that it have invested more than 55 billion won ($46 million) in 26 blockchain companies along with its investment subsidiary Dunamu & Partners since they announced a three-year plan to invest a total of 100 billion won into the industry in March 2018.

Primarily carried out through its investment subsidiary, founded in March 2018, the portfolio includes strategic investments into companies developing core blockchain technology and services, solutions with strong application potential, and emerging technology in related fields such as fintech and games.

It includes Terra, a next-generation payment network based on price-stable cryptocurrency; Rainist, which manages over 87 trillion won in customers’ financial data via its Bank Salad personal financial management platform; and Dalcom Soft, best known for its global Superstar rhythm game series. Among others are peer-to-peer lending platform Honest Fund, online travel service firm Tide Square, blockchain-based global investment platform Finhaven, and multichannel network company Sandbox Network.

“Our goal is to contribute to the healthy growth of the blockchain ecosystem by actively investing in startups with world-class technology and services with potential for real-life implementation,” said Ryan Lee, CEO of Dunamu and Partners.

“Dunamu and Dunamu & Partners’ strategy of identifying and investing in innovative tech and finance startups, regardless of size, stage and region will continue in 2019,” the company said.

Dunamu & Partners also highlighted three investment micro-trends the company plans to focus on in 2019 -- mainstream adaptation of blockchain-based services, emergence of mobile fintech services in line with evolving financial regulations, and personal branding business opportunities centered around individual content creators.

In April 2018, the company partnered with game developer Neptune to set up a 100 billion won investment fund dedicated to blockchain-based games.

By Kim Young-won (wone0102@heraldcorp.com)

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