Discover if this is a suitable investor for your startup. If they are we'll make a warm introduction for free. Otherwise, we'll connect you with matching investors.
Forest Partners is an independent venture capital firm established in 2016 and headquartered in Seoul, South Korea. The firm focuses on investing in early-stage to growth companies, particularly those led by Korean founders. Forest Partners operates across three primary business segments: Venture Capital, Growth/Private Equity, and Public Equity. This multi-strategy approach allows the firm to create lasting impacts for companies during critical growth phases.
In 2023, Forest Partners underwent a significant transformation by acquiring UTC Investment, a move that enhanced its assets under management (AUM) and expanded its investment capabilities. Following this acquisition, the firm’s total AUM exceeded KRW 1 trillion (approximately $750 million), with its venture capital AUM reaching KRW 600 billion (around $450 million). The firm has raised over nine funds, with substantial investments in notable portfolio companies like Tridge, which has received approximately $63.3 million across multiple funding rounds.
Forest Partners emphasizes independent thinking and professional integrity in its investment decisions, aiming to facilitate strategic investments that support companies as they transition to public markets. The firm’s commitment to fostering innovation and sustainable growth is evident in its diverse portfolio, which spans various sectors including agtech, fintech, healthcare, and more.
Forest Partners invests in early-stage to growth companies across a wide array of sectors, including agtech, fintech, healthcare, consumer, media, AI, biotech, and commerce. The firm primarily targets companies led by Korean founders, reflecting its commitment to supporting local entrepreneurs. Investment stages range from pre-seed and seed to Series A, Series B, and growth equity, allowing the firm to engage with startups at various points in their development.
The firm emphasizes independent thinking and professional integrity in its investment strategy, which is designed to create lasting impacts during critical growth phases. Forest Partners seeks to facilitate strategic investments that support companies as they transition to public markets. This approach is particularly relevant for their portfolio companies, which often require guidance and resources to navigate the complexities of scaling and going public.
Check sizes typically align with the stages of investment, allowing for flexibility in funding amounts based on the specific needs of each company. Forest Partners also maintains a focus on co-investment opportunities, collaborating with other investors to maximize the potential for success in their portfolio.
Forest Partners has a diverse portfolio of 14 companies, showcasing its investment across various sectors. Notable portfolio companies include:
Alex Seung Han: Founding Partner & CEO. Han has a background in venture capital and previously worked at BRV Capital Management. He is now also the CEO of UTC Investment following its acquisition by Forest Partners.
Sukkyun Kim: Growth/PE Partner. Kim brings extensive experience in private equity and growth investments, focusing on scaling portfolio companies.
Hoyon Hwang: General Partner & CSO. Hwang has a strong track record in strategic investments and corporate development, contributing to the firm's growth strategy.
Dong Yeol Yoo: VC Managing Director. Yoo specializes in early-stage investments and has a keen eye for identifying promising startups in various sectors.
To pitch to Forest Partners, founders should use the preferred channel of their website at forestgp.com or email contact@forestgp.com. A detailed pitch deck is essential, including information on the business model, market opportunity, competitive landscape, and team qualifications.
Response times can vary, but founders should expect a thorough review process. Warm introductions are preferred, as they can facilitate a more favorable reception of the pitch. The firm values clarity and conciseness in presentations, so founders should focus on key metrics and growth potential.
In March 2023, Forest Partners completed the acquisition of UTC Investment, enhancing its assets under management and expanding its investment capabilities. This acquisition involved a unique structure with no upfront payment, totaling approximately $21.1 million (KRW 30 billion) paid in installments over three years.
In August 2023, portfolio company FADU was listed on the Korea Stock Exchange, marking a significant milestone for the firm and its investment strategy. Additionally, Forest Partners has invested approximately $63.3 million (KRW 90 billion) in Tridge, its most visible portfolio company, which completed a $60 million Series C investment in July 2021.
Forest Partners also launched a $17.3 million Startup Korea Fund through UTC Investment, aimed at backing tech startups with global expansion potential.
What are Forest Partners' investment criteria?
Forest Partners focuses on early-stage to growth companies, particularly those led by Korean founders. They invest across various sectors, including agtech, fintech, healthcare, and more.
How can I apply or pitch to Forest Partners?
Founders can pitch to Forest Partners through their website at forestgp.com or by emailing contact@forestgp.com. A detailed pitch deck outlining the business model, market opportunity, and team is recommended.
What makes Forest Partners different from other VC firms?
Forest Partners combines venture capital, growth equity, and public equity under one roof, allowing them to support companies through various stages of growth and transition to public markets.
What is the geographic scope of Forest Partners' investments?
The firm primarily invests in South Korea but is open to opportunities across Asia and beyond, especially in companies led by Korean founders.
What is the typical check size for investments?
Check sizes vary depending on the stage of investment, ranging from pre-seed to growth equity, allowing for flexibility based on the specific needs of each company.
What kind of post-investment involvement does Forest Partners have?
Forest Partners actively engages with its portfolio companies, providing strategic guidance and resources to help them navigate the transition to public markets and achieve sustainable growth.
All trademarks, logos and brand names are the property of their respective owners. All company, product and service names used in this website are for identification purposes only. Use of these names, trademarks, and brands does not imply endorsement.