Participated · Equity · Jul 2023

Superblock, based in Seoul, South Korea and led by founder Ben (Jae-Yun) Kim, builds products, developer tools and decentralized applications to grow the Over Protocol. Over Protocol is a new layer-1 blockchain built on a protocol called "Ethanos" that treats only active accounts as valid, letting full nodes discard obsolete data and operate with less storage. That design reduces storage requirements so that anyone can run a node and become a validator on a home PC. Superblock raised $8 million across two funding rounds and plans to use the funds to expand operations and accelerate development efforts. Investors in the rounds include SK, Netmarble, DSC, E&Investment, Schmidt, SpringCamp and NaverZ. The company emphasizes enabling broader decentralization by making node operation feasible for ordinary users.

Participated · Equity · Sep 2022

Iskra operates a blockchain-based platform that helps projects launch games and conduct governance token sales. Founded in 2022, the startup previously raised a seed round of roughly 520 billion won. The company is migrating its hub chain to Coinbase’s Base mainnet and has announced a tokenomics overhaul and plans to build a layer‑3. Iskra unveiled an ISK 10 million coin airdrop tied to the Base migration and plans bimonthly governance‑token airdrops for onboarding games. It is also introducing an ActivityFi rewards system and has published an ISKRA 2.0 roadmap aimed at becoming an all‑in‑one web3 platform. The platform says it will focus on global user activation and community growth. Iskra is a web3 community game platform that uses a community‑forward system to reward stakeholders and integrate sustainable tokenomic solutions for game developers. The company says it seeks to bridge web3 adoption between early adopters and the mainstream by combining enjoyment, sustainability and blockchain technology. Iskra announced it raised $40M from Korean tech and gaming companies including Krust, Wemade, Netmarble, LINE Studio and others. It plans to hold its first Token Generation Event (TGE) on the global exchange Gate.io on Sept. 29, 2022 and is partnering with Gate.io for the launch. As part of Gate.io’s Startup program, eligible users can receive up to 500,000 ISK tokens by staking USDT beginning Sept. 28, 2022. Despite challenging market conditions, Iskra says it is continuing to advance development milestones and launch major platform components.

Participated · Equity · Feb 2018

Kakao Games is the spun-out games business of Korea’s dominant messaging and internet company Kakao. The unit pulled in $130 million (140 billion KRW) from strategic investors as it positions for an IPO. Investors included Tencent (investing via two subsidiaries), Korea’s Netmarble Games (backed by Tencent), game studio Actozsoft, Bluehole Studio, and M&A fund Premier Growth. Kakao Games has primarily helped Korean developers take their titles overseas and is now focused on international growth and potential M&A, according to its Asia head. The games business was spun out last year and Kakao said it planned to list the unit this year; Kakao’s parent has also completed a $1 billion placement in Singapore for international expansion. Kakao operates a wide range of consumer services—including taxi-hailing, deliveries, comics and payments—and intends for the central Kakao business to act as a holding company over independent units.

Led · Equity · Jul 2015

SGN is a cross-platform mobile games studio founded by MySpace co-founders Chris DeWolfe and Aber Whitcomb and former Fox executive Josh Yguado. It develops and publishes games on Facebook, iOS, Android and Amazon and has released titles including Panda Pop, Book of Life: Sugar Smash, Juice Jam and Cookie Jam. The company operates globally with offices in Los Angeles, San Francisco, San Diego, Palo Alto and Buenos Aires. SGN will use proceeds from the investment to grow its share in Asia through games studio acquisitions. SGN and investor Netmarble will maintain operational independence while working closely to share creative and technological knowledge. Netmarble, led by Youngsig Kwon, is a South Korean mobile games publisher and will leverage SGN’s expertise to expand its presence in the West. SGN develops mobile games for iPhone and iPad and plans to expand to Android. It released 3D third-person shooter EXO-Planet Elite on iPhone and iPod Touch after originally launching the title on iPad. EXO-Planet Elite is set in space, features a grappling-hook mechanic, and emphasizes multiplayer modes like Deathmatch and Capture the Flag; a single-player time trial mode was also added. The iPhone version is sold for $4.99 on the App Store and the article reports the smaller form factor can improve controls versus the iPad. SGN previously had success with Skies of Glory and is aiming to replicate that with EXO-Planet given the iPhone’s larger user base. The company raised $2 million from Eric Schmidt’s Tomorrow Ventures and Xing founder Lars Hinrichs.