Startup accelerator Bluepoint Partners gets the nod to start the process for KOSDAQ listing. This is the first time an accelerator will be listed on the Korean bourse. Bluepoint received approval for preliminary examination for listing by the Korea Exchange on October 20. The listing manager for the process is Korea Investment & Securities.

Founded in 2014, Bluepoint is a tech-edge accelerator and is playing a role in accelerating growth by investing in early technology-based startups. As of the first half of 2022, it has invested in 255 startups, of which in digital (24%), industrial technology (20%), data and artificial intelligence (18%), healthcare (16%), bio and medical (10%), clean tech (8%). The total corporate value of Bluepoint is about 4,458 billion won ($3107 million).

Its portfolio companies include Plasmap, a manufacturer of medical sterilizers; Tomocube, a developer of 3D microscopes; and Starstech, a manufacturer of eco-friendly snow removers using starfish. Currently, 10 portfolio companies, including Plasmap and Tomocube, are preparing for an IPO. In particular, Plasmap was approved for a new listing on the KOSDAQ in October 2022. Inventage Lab also passed the preliminary examination on September 22 and is preparing for listing this year.

Last year, Bluepoint achieved the highest performance ever, with sales of 38.5 billion won ($26.8 million) and an operating profit of 24.17 billion won ($16.8 million). Compared to the previous year, 2020, sales and operating profit soared by 106.5% and 234.3%. In the first half of this year, the company recorded sales of 20.53 billion won ($14.5 million)  and 11.27 billion won ($7.8 million).

Bluepoint’s core competency lies in securing business competitiveness by focusing on technology. It is creating a unique position in the industry by leading the commercialization of technology, centering on technology-based startups that are relatively easy to enter the global market and can distribute risks.

Lee Yong-kwan, CEO of Blue Point Partners, said, “The goal is to provide more opportunities and possibilities to startups by securing high reliability through the listing. Through indirect investment in startups, we plan to lead a virtuous cycle in the startup ecosystem that reduces risks and revitalizes the startup market.”

Also Read, 

• Megazone Cloud attracts $343 million Series C investment, ramps up IPO preparation
• Leading ad tech unicorn startup IGA Works to file for IPO
• Zigbang attracts 100 billion won ($77 million) pre-IPO investment
• Korean AI-Medical startup Lunit IPO to debut on KOSDAQ in July 

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