VC firms rake in profit of up to 6 times principal from Raemongraein

Venture capital firms that invested in media production company Raemongraein Co. raked in significant profit from the surge in popularity of the TV series "Reborn Rich."

SBI Investment Korea, the asset management arm of SBI Group, has sold 526,925 shares of Raemongraein, according to the Financial Supervisory Service. 

SBI purchased the shares with 5 billion won ($3.8 million) on KONEX in September 2020.  

Late last month, SBI raked in around 13.6 billion won in profit, three times that of the principal. 

Maple Investment Partners sold all of the Raemongraein shares it owned.

The VC firm first bought 500,000 shares of the TV production company with 2 billion won in July 2019. Its return on investment (ROI) from the sale of Raemongraein shares is six times that of its principal. 

Raemongraein is the production company behind the hit K-drama Reborn Rich, and its share price surged 58.6% this month alone. 

Write to Se-Yeong Choi at seyeong2022@hankyung.com
Jee Abbey Lee edited this article.