Dunamu & Partners Invests 55 billion won in 26 Blockchain and FinTech Startups

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South Korean company Dunamu announced on May 15, that it has invested about 55 billion won (about US$46 million) in 26 startups via its investment-specialized subsidiary, Dunamu & Partners.

Dunamu along with Dunamu & Partners had pushed for active investment activities to create blockchain and FinTech ecosystems and support startups. The operator of cryptocurrency exchange Upbi, Dunamu stated last year its target plan was to invest 100 billion won (about US$ 84 million) in the blockchain industry. It has achieved more than half of its investment target for the first time in about a year. Both companies have invested in 26 companies.

Investment for Blockchain Revitalisation

Dunamu & Partners focused their investments on key technologies and applications in blockchain industries, areas where the introduction of blockchain is promising, and future technology targets that can be closely linked to blockchain such as FinTech.

The major investment went to companies like Terra, which is gaining global attention for its innovation in payment systems based on the Stable Coin algorithm, Rainist, who runs Bank Salad, which secured 87 trillion won (about US$ 73 billion) in customer-linked assets as of the end of February 2019, and more.

“We are actively investing in excellent technology companies and services that are expected to be introduced in real life to contribute to the healthy growth of blockchain ecosystems,” said CEO Lee Kang-joon of Dunamu & Partners. “We will also find and support companies that can lead to drastic innovation in technology and financial interfaces by pushing for aggressive investments that are not related to size, stage or region in 2019.”

Investment based on 2019 business trends

Dunamu & Partners stated that it will make aggressive investments in this field on the basis of micro trends noticed in 2019. The first is the strong performance of mobile FinTech operators, which have promoted customer convenience in line with the evolving financial environment, such as the launch and activation of blockchain-based services, the second is the popularization of brands and expansion of business opportunities led by one-person markets and creators.

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