Venture capital (VC) firm Stonebridge Ventures hit the jackpot on its exit from AI technology Start - Up Nota.
On the 5th, Stonebridge Ventures said it recently began recouping its investment after Nota's listing and succeeded in a partial exit at a multiple about 65 times the initial valuation.
Nota is an AI Start - Up that developed the platform "NetsPresso," which optimizes AI models for devices, and it listed on the KOSDAQ market on the 3rd. The offering price was 9,100 won, and the market capitalization after listing was 192.6 billion won.
Nota's stock surge led to a blockbuster exit for Stonebridge Ventures. On the first day of listing, Nota closed at 31,000 won, up 240.66% from the offering price (9,100 won), and the day before it hit the upper price limit.
Stonebridge Ventures first invested in Nota in 2019. At the time, it solely participated in a 1.5 billion won pre‑A round. The valuation was about 7.5 billion won.
Afterward, the company joined Nota's series A, series B, and series C fundraising in succession and rose to become a major shareholder. Before the listing, it held a total of 2,532,000 shares, and its equity stake was identified as 13.9%.
On the 3rd, the first day of Nota's listing, Stonebridge Ventures sold about 840,000 shares that were not locked up at around 24,000 won per share, recouping an estimated 19.9 billion won upfront.
The industry is predicting that, boosted by the Nota exit results, Stonebridge Ventures could post its highest-ever exit performance this year.
In particular, Nota has hit the upper price limit for three consecutive trading days through today, pushing its market cap above 1 trillion won. The value of Stonebridge Ventures' remaining equity (7.98%, 1,688,000 shares) is estimated at 88.3 billion won.
Stonebridge Ventures is also proceeding with exits from AI technology Start - Ups NEWEN AI and S2W. Even with the partial exit from S2W, it recorded a multiple more than 21 times the initial valuation.
A Stonebridge Ventures representative said, "Our diversified portfolio—from AI to bio and mezzanine of listed companies—is starting to bear fruit," adding, "Exits from Green Optics and Livsmed are also imminent."