[Alpha Biz= Ellie Kim] Kakao is set to sell part of its stake in Dunamu, the operator of cryptocurrency exchange Upbit, in a deal worth approximately KRW 1 trillion—representing a more than 300-fold return on its initial investment.

Kakao disclosed on May 14 that its subsidiary Kakao Investment will sell 2.284 million shares, equivalent to a 6.55% stake in Dunamu, for a total of KRW 1.03 trillion.

The company originally invested around KRW 3.5 billion in Dunamu roughly a decade ago, making this transaction one of the most successful venture capital exits in South Korea’s history.

The disposal is scheduled to be completed on June 15.

 

 

 

[ⓒ 알파경제. 무단전재-재배포 금지]