Type Private AUM US$2.4 billion (2013) Founded 1999 | Industry Private Equity Number of locations 7 offices (2012) Founder Y.H. Do | |
Key people Yong Hwan Do (Chairman)Byung Won Choi (CEO)Dong Guel Kwak (CIO | ||
STIC Investments Inc. is an international venture capital and private equity fund management firm. It was founded in July 1999. As of early 2013, STIC Investments had AUM of US$2.4 billion.
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STIC Investments is headquartered in Seoul, South Korea, has offices in Busan, Hong Kong, Ho Chi Minh City, Shanghai, and Taipei, and employs 70 people.
Investment Areas
STIC Investments engages in growth capital investments, buyouts, and secondary market transactions pertaining to mid-cap companies. In early 2013, STIC Investments indicated its intention to become active in the area of mergers and acquisitions of large corporations.
STIC Investments establishes off-shore structured vehicles targeted at international investors, and is one of a small number of Asia-based firms that manage Shariah-compliant private equity funds, having targeted this group of investors since 2004.
STIC Investments has invested in over 300 companies to date, mostly in technology-enabled manufacturing industries including the TMT (Technology, media, telecommunications), health care, biotechnology, clean technology, automotive, and shipbuilding / offshore plant industries.
Exited
STIC Investments paid 10 billion won (US$8.54 million) for a 22% stake in Jeil Hydraulics in late 2009, which it sold to Eaton Corporation in mid-2012 for 30.8 billion won (US$29 million), thereby more than tripling its investment in less than three years. The stake was held in the STIC Private Equity Fund II.
The firm made an initial investment of US$20.3 million in Golfzon, a maker of a golf simulator, in March 2008, and sold its stake in early 2012 for US$72.9 million, earning a 3.6x return, or a gross IRR of 66.1%. The stake was held in the now-liquidated STIC Private Equity Fund I.
The firm owned stakes in Playspan, which was sold to VISA in 2011.
Ongoing
In 2012, the firm invested KRW162 billion (US$144 million) to acquire an 8.1% stake in Posco Energy, and invested US$28.2 million in Hyundai Oil Terminal, a subsidiary of Hyundai Oilbank.
Ongoing Funds
Recognition
STIC Investments has received several domestic awards, including the "Best Private Equity Fund" award at the 4th Korea Investment Banking Awards, sponsored by the Korea Economic Daily, and the "Best Exit Deal" award at the 2013 Korea Venture Capital awards, sponsored by Money Today and the Korea Venture Capital Association. The company was also selected as the "Best Private Equity Manager" in the 2013 AsianInvestor Korea Awards and received the "Industrial Service Medal" from the president of South Korea in 2007.