Mirae Asset Venture Investment to Gain 24x Return from Semifive's KOSDAQ Listing

This article was posted on the Chosun Biz Money Move (MM) site on October 21, 2025, at 6:03 p.m.

Venture capital (VC) Mirae Asset Venture Investment is on the verge of a major exit, investment recovery success with Semifive, a semiconductor design specialist. This follows Semifive's recent push for a KOSDAQ listing, having been valued at 30 billion Korean won during Mirae Asset Venture Investment's first investment in 2019.

According to the financial investment industry on the 21st, Semifive submitted a securities report to the Financial Services Commission, formally entering the public offering process for a KOSDAQ listing. This came approximately three months after applying for a preliminary review with the Korea Exchange in July, with the goal of listing within the year. Samsung Securities and UBS Securities are handling the listing underwriting.

Semifive plans to list a total of 33,716,419 shares by issuing 5.4 million new shares. The hoped-for public offering price range (band) was set at 21,000 to 24,000 Korean won. The planned offering amount ranges from 113.4 billion to 129.6 billion Korean won, with the post-listing market capitalization estimated at approximately 809.2 billion Korean won based on the upper end of the band.

Founded in 2019 by CEO Jo Myung-hyun, an alumnus of the Massachusetts Institute of Technology (MIT), Semifive is recognized as a leading domestic semiconductor design house. It has secured technology that reduces semiconductor design periods by up to 60% using its proprietary design platform, earning a spot as a Samsung Electronics Design Solutions Partner (DSP).

Semifive previously drew attention in March 2023 by securing significant Series B round investments from financial investors (FI) including Shinhan Securities, SV Investment, and Korea Investment Partners. Notably, Doosan also participated as a strategic investor (SI) at the time, valuing the company at 500 billion Korean won.

Mirae Asset Venture Investment is expected to be the investor with the largest recovery gains from Semifive's listing. After investing 900 million Korean won from its proprietary account (PI) during the company's first funding round in June 2019, it continued follow-on investments, becoming the second-largest shareholder after SiFive, the largest shareholder.

According to Semifive's securities report, Mirae Asset Venture Investment invested a total of 36.3 billion Korean won, holding an 11.93% stake in Semifive. The "Mirae Asset Next Revolution Investment Partnership" alone holds over 3.5% of the shares. Five venture investment partnerships, including the "Mirae Asset Next Korea Intelligent Information Investment Partnership," were utilized for the investments.

If Semifive lists with a valuation of 809.2 billion Korean won, Mirae Asset Venture Investment is projected to secure profits exceeding double its initial investment. This is because the valuation of Mirae Asset Venture Investment's stake already surpasses 81 billion Korean won based on the upper end of the band. The average investment price per share for Mirae Asset Venture Investment was approximately 10,800 Korean won.

Notably, the PI funds invested at 3,100 won per share during the seed stage in 2019 are expected to yield a return of over 24 times based on the post-listing valuation. In June 2019, during the seed funding round, approximately 900 million Korean won was invested at around 3,100 won per share, with Semifive's corporate value then estimated at 3.35 billion Korean won.

A source from the VC industry stated, "Semifive is the first listed case among AI companies invested by Mirae Asset Venture Investment, and large-scale investment recovery is expected due to the recovery in the semiconductor industry. The recovery gains from Semifive are also likely to positively impact Mirae Asset Venture Investment's performance this year."

Semifive's KOSDAQ Listing Yields 24x Return