(Seoul=Yonhap Infomax) Yong Bi Yang — KOSDAQ-listed RaonSecure, a leading South Korean IT security and authentication platform provider, has established a new subsidiary to accelerate its venture investment activities. Through this new entity, the company aims to ramp up investments in IT innovation, Web 3.0, and artificial intelligence (AI) startups.


According to the investment industry on the 24th, RaonSecure officially established 'RaonVentures' on November 11. The initial capital was 900 million won ($670,000), which was increased to 3 billion won ($2.2 million) through a capital injection on November 20, meeting the regulatory requirement for venture capital registration in South Korea, which mandates a minimum capital of 2 billion won ($1.5 million).


RaonSecure had provisionally registered RaonVentures as a corporation in February this year. While the initial deadline for formal registration was August 12, the company extended this period to February next year. Despite the extension, RaonVentures completed its establishment within three months of the new deadline.


RaonVentures' management team includes key executives from RaonSecure. Founder and CEO Lee Soon-hyung will serve as CEO of RaonVentures, while co-CEO Lee Jung-a and Executive Vice President Kim Tae-jin, head of standardization and development, have also joined the board.


Founded in 2012, RaonSecure is recognized for its mobile security solutions and holds the largest number of FIDO biometric authentication references in South Korea. Leveraging its robust blockchain R&D capabilities and accumulated expertise, the company continues to expand its influence in the domestic IT security and authentication market.


Recently, RaonSecure has been developing cutting-edge security technologies, including AI, post-quantum cryptography, and homomorphic encryption. The company aims to support startups that will shape the future by utilizing its strong blockchain R&D and technical know-how.


RaonSecure's affiliates include RaonMeta, a metaverse-based training platform; InBizNet, an ARS authentication company; Digital Trust Networks, a decentralized identity (DID) technology solutions provider; and OmniOne, a decentralized identity platform.


RaonVentures is expected to actively invest in companies focused on IT innovation, Web 3.0, and AI. The group plans to identify startups that can generate synergies with Raon Group's strong IT security and authentication technologies.


In particular, RaonVentures will focus on startups leveraging core technologies such as blockchain, AI, DID, and NFTs that align with the Web 3.0 era. For AI, the company will target firms pioneering the future with technologies like machine learning, natural language processing, and data analytics.


RaonVentures plans to enhance the technological competitiveness of startups through specialized mentoring in IT security and authentication, as well as sharing the latest technology trends.


The group will also leverage its global partnership network to facilitate collaboration with international companies and provide overseas market testbed opportunities. Through connections with major IT hubs such as the United States, Japan, and Singapore, RaonVentures aims to strengthen the global competitiveness of its portfolio startups.


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ybyang@yna.co.kr


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