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DEEP RESEARCH · Mirae Asset Venture Investment/Milestones

Mirae Asset Venture Investment: From Dot-com Pioneer to AI Investment Platform

A milestone-based report from the 1999 founding through KOSDAQ listing and the AI portfolio buildout

Written: 2025-10-18 · Venture-capital milestone analysis · Naver Blog

Investment decisions are your own responsibility. This material is research, not a recommendation to buy or sell.

0. Bottom line first

Mirae Asset Venture Investment's story turns on three milestones: starting as Korea Dream Capital during the dot-com era and surviving through the Mirae Asset Group transition; building a long profitable record and diversified funds under CEO Kim Eung-seok; and, after the 2019 KOSDAQ listing, concentrating on the AI value chain with potential exits such as SemiFive, Moloco, and Rebellions.

1. Strategic timeline

DateEventStrategic meaning
1999.06.08Korea Dream Capital founded with KRW 10bn capitalBuilt a venture-capital base during the dot-com bubble
1999.11.12KRW 16.3bn Korea Dream Venture IT Fund No. 1 formedStarted early ICT-focused investing
2000.12.05Name changed to Mirae Asset Venture InvestmentSecured group brand, funding, and network support
2005.06.30Kim Eung-seok became CEOBeginning of a 20-year consecutive profit record
2010.12.29KRW 81.4bn Mirae Asset Nice PEF launchedExpanded into growth capital and buyouts
2019.03.15KOSDAQ listing at KRW 4,500 offer priceAdded proprietary investment capital and credibility
2019-presentFocused investment across the AI value chainKRW 257.9bn invested in 57 AI companies; AI at 43% of portfolio
2021AUM exceeded KRW 1tnFundraising and scale accelerated after listing
2024KRW 122bn Mirae Asset AI Frontier Fund formedKDB GP selection validated AI investing capability
Evolution pathSurvival → diversification → AI focus
1999-2004Founding and group entry
2005-2018Profits and fund diversification
2019KOSDAQ listing
2019-presentAI portfolio
The listing created a base for proprietary investment and policy-linked AI fund management.

2. AI portfolio and exit candidates

Official fact: The source states that the company has invested KRW 257.9bn in 57 AI companies and that AI accounts for 43% of the portfolio.

Portfolio companyFieldInvestment/statusPerformance point
SemiFiveAI semiconductor design platformFirst invested in 2019; total KRW 36.3bn; KOSDAQ preliminary review passedExpected value KRW 1-2tn; expected first AI portfolio IPO
MolocoAI advertising technologyGroup investment from 2017; KRW 72.3bn by Mirae Asset Venture Investment; preparing Nasdaq listingGlobal unicorn case valued at KRW 5-10tn
APRBeauty techOver KRW 10bn invested; exitedAbout 8x return on original investment
RebellionsAI semiconductor NPUKRW 7bn invested in 2022; Series C raisedRecognized valuation of KRW 1.9tn
AijinetInsurtechKRW 700mn pre-A; exited in 2025About 7x return
Lunit, RIDIMedical AI, content platformEarly investmentsExamples of early-stage unicorn discovery

3. How to read the structure

AUM

Scale growth

AUM exceeding KRW 1tn in 2021 shows post-listing fundraising power.

AI

Focused strategy

The portfolio spans AI chips, advertising technology, medical AI, and other value-chain segments.

Exit

Exit events

SemiFive's listing path, Moloco's Nasdaq preparation, and APR/Aijinet exits are earnings catalysts.

Policy

Policy tailwind

AI and venture-investment policy, plus KDB GP selection, support fund formation.

4. Risks and conclusion

Interpretation: VC earnings can swing with portfolio fair value, exit timing, and new fund formation. This stock should be tracked through AUM growth, AI fund formation, key IPO/M&A schedules, and policy-capital flows rather than only near-term net income.

Sources

Naver original