Kim Dae-young, a KU alumnus who runs a venture capital firm and has discovered numerous promising companies, including Krafton, Kong Studio, and Gentle Monster, donated 5 billion KRW to his alma mater’s development fund in January. As a first-generation venture capitalist in Korea, he has contributed significantly to the growth of Korea’s venture companies and startups. He explained the significance of his donation, saying, “I want to serve as a catalyst for nurturing future venture entrepreneurs from KU.”

A first-generation venture capitalist who has become a powerhouse in the cultural content sector

KNET Investment Partners, which he founded in 2008, is considered a powerhouse in the cultural content sector. Upon its founding, he received a KRW 20 billion fund of funds (a government fund) from the Ministry of Culture, Sports and Tourism, establishing the KNET Cultural Content Investment Association with a total investment of KRW 50 billion. The following year, he invested in the gaming company Krafton.

Krafton is the developer of the survival shooter game “Battlegrounds,” and it grew rapidly after receiving investment and was listed on the KOSPI in 2021. Following the listing, Krafton’s corporate value soared to 1 trillion KRW. This achievement enabled the Ministry of Culture, Sports and Tourism to record a multiple (price to earnings ratio) of 13.1 of its investment, the highest since the creation of the K-content-related fund of funds in 2006. This is a representative example of successful investment returns that have made dreams a reality, and it has once again made Kim Dae-young’s name known in the industry.

The protagonist in the creation of the Krafton legend

After graduating from college, Kim worked at Kolon and LG Securities (now NH Investment & Securities) before studying abroad in the United States, where he completed an MBA at New York University. After returning to Korea, he worked at the advertising company Oricom before moving to Korea Technology Investment (currently SBI Investment) in 1997, where he truly learned the investment process. Two years after joining the company, in 1999, he made a significant investment in “StarCraft,” marking the beginning of his involvement with the gaming industry. With a smile, he said, “I don’t play games at all, but having served as an outside director at a gaming company for 10 years, I understand the nature of the industry better than anyone else.”

“I founded the company in November 2008 and received a fund of funds. While looking for a company to invest in, we identified Krafton. The road to the initial public offering (IPO) was fraught with vicissitudes, but we eventually achieved such success that it is seen as legendary, which is truly satisfying. Seeing a small startup grow into a unicorn with a market cap of 1 trillion KRW is incredibly rewarding for investors. We donated to the KU fund in the hopes that something similar could happen at our alma mater.”

The value of sharing learned through “lunchbox charity” in childhood

Kim has been passionate about sharing since he was young. In fifth grade of elementary school, he learned that two of his classmates at an orphanage were skipping lunch because they couldn‘t bring their own lunches. So he asked his mother to help them, and he began carrying three lunch boxes every day.

“Since then, I’ve always lived with the idea of contributing to society in mind. This donation is also in line with that. Constructing buildings at schools or providing scholarships doesn‘t have to be my job. I wanted to make a more meaningful donation, one related to my occupation. What I am proficient at is fostering venture companies and startups, and I’ve always felt that my school does not have many venture companies. I hope this fund is used effectively, leading to the creation of many good companies, and that those companies then donate to the school, thereby creating a virtuous cycle.”

He said, “I will continue this work as long as my health permits because discovering good companies that will enhance the national economy is the way I contribute to society.” That’s why, when making investment decisions, he prioritizes people over business ideas. He believes that venture businesses are only successful when run by “honorable people” with a sound attitude toward life. It seems clear why he has achieved such success as an investor.