Kakao-backed Dunamu pumped $46M in blockchain startups over the past year

Dunamu, the company behind South Korea’s cryptocurrency exchange platform Upbit, announced on Wednesday that it has invested $46 million in 26 companies over the past year.

The investment was made primarily via its investment subsidiary Dunamu & Partners, which was launched in 2018. The latest announcement is part of the fintech firm’s 3-year plan to invest approximately $84 million into the blockchain industry.

“Our goal is to contribute to the healthy growth of blockchain ecosystem by actively investing in startups with world-class technology and services with potential for real-life implementation,” Ryan Lee, CEO of Dunamu and Partners, said.

The Kakao-backed firm strategically invested on firms that are into the development of core blockchain technology and services, services with strong blockchain application potential, and emerging technology in blockchain-adjacent fields including fintech and games.

Dunamu’s growing portfolio now includes stablecoin-based payment network Terra, personal financial management platform Rainist, and global Superstar rhythm game series Dalcom Soft.

Moreover, peer-to-peer loan service platform Honest Fund, travel technology firm Tidesquare, blockchain-based investment platform Finhaven, and multi-channel network service provider Sandbox Network have also seen investments.

“Dunamu and Dunamu & Partners’ strategy of identifying and investing innovative tech and finance startups, regardless of size, stage, and region, will continue in 2019,” Lee said.

The press release also revealed Dunamu’s plan to focus on three investment micro-trends this year. The firm said that it aims to concentrate on companies that will help increase the mainstream adoption of blockchain-based services and the emergence of mobile fintech services, as well as firms centered on individual content creators.

Meanwhile, just last March, Dunamu announced the launch of a consortium-based blockchain service platform Luniverse. This new platform will help IT companies and start-ups to develop blockchain-based services that they lack resources to set up on their own. It will offer cloud-based services for companies to build, host, and maintain a blockchain.