CJ may boost investment through possible acquisition of Timewise Investment Timewise Investment expected to serve as control tower that leads investment activities

Translated by Kim So-in 공개 2022-02-16 08:11:08

이 기사는 2022년 02월 16일 08:09 더벨 유료페이지에 표출된 기사입니다.

CJ Corp is expected to make aggressive investments in a wider range of industries, as the South Korean conglomerate considers incorporating Timewise Investment as its subsidiary.

Timewise Investment, formerly known as CJ Venture Investment, has raised 342.8 billion won ($285 million) as of December 2021, according to Disclosure Information of Venture Capital Analysis. The firm is estimated to have raised more than 400 billion won in total, of which transactions with related parties between July 2019 and December 2021 exceeded 160 billion won, according to the regulatory filing.

Of Timewise Investment’s 17 funds, those registered before 2017 heavily invested in content firms while funds registered after 2017 invested in industries ranging from Information and Communications Technology (ICT) to foods, biotech and new media.

The firm's ICT portfolio includes Fast Track Asia, Barogo and 42dot, with its biotech portflio including Huray Positive, Syntecabio and HEM Pharma. It has invested in Bunjang, The Nature Holdings and Humajor in the retail sector and Fresheasy, Cookat and From Bio in the food sector. The firm has continued to invest in cultural content firms thanks to its networks and know-hows accumulated for 20 years.

Its total invested capital amounted to 40 billion won last year, of which the ICT service sector accounted for 22%, the biotech sector 25%, the music, video and performance sector 26% and the retail service sector 22%.

Timewise Investment started to expand its portfolio in 2016 when Seo Jang-won took office as CEO of the investment firm in 2015. Seo emphasized that the firm has to put weight on corporate investment to build a balanced portfolio. He carried out personnel reshuffle, aiming to strengthen its investment activities through the blurring of boundaries between organizations.

Incorporating Timewise Investment is expected to accelerate CJ's further growth. If it becomes a subsidiary of the holding company, the firm is likely to serve as a comprehensive control tower that leads investment activities which have been led by CJ CheilJedang and CJ ENM. It will gather and redistribute financial resources for investments in startups.

CJ Group plans to invest 30 billion-40 billion won in startups this year, more than twice it had invested in 2021. The investments will be led by Timewise Investment. The firm surpassed 400 billion won in assets under management last year, which is expected to increase to about 450 billion won this year.

The possible acquisition of Timewise Investment is likely to accelerate the group’s mid-term vision unveiled at the end of last year. CJ Group Chairman Lee Jae-hyun said the group will invest more than 10 trillion won in four future growth engines - culture, platform, wellness and sustainability - over the next three years. (Reporting by Hyo-beom Lee and Nu-ri Moon)
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