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AON Investment
Jonghyun Lee runs AON Investment, a Seoul-based company-builder VC blending pharmacists, engineers, and founders across ICT and healthcare.
AON Investment
AON Investment is a venture capital firm founded in 2021 in Seoul, South Korea. It focuses on company building within various industry sectors. The firm provides financial investment to startups and emerging companies.
General information
Firm type
Private Equity
Year founded
—
AUM
Undisclosed
Location
Region
Asia
Country
South Korea
City
Seoul
Corporate office
Seoul, South Korea
Principals
Jonghyun Lee
CEO
Byungkyu Ahn
Partner / Senior Managing Director / Pharmacist (Pharm D.)
Taekwon Lee
Head of U.S. Branch
Hyunho Cho
Vice President
Geonho Lee
Team Leader / Pharmacist (Pharm D.)
Sector focus
Frequently asked questions
Who runs investment decisions at AON Investment?
CEO Jonghyun Lee leads investment decisions, concentrating on ICT and healthcare. Partner Byungkyu Ahn, a licensed pharmacist, focuses the healthcare practice on data-driven, non-fashion-biased drug and med-tech deals. Vice President Hyunho Cho, a serial software and consumer-goods founder, directs ICT and consumer-sector investments.
How does AON Investment source proprietary deal flow?
AON Investment's partners draw from their previous operational and consulting backgrounds — CEO Lee from the TIPS startup acceleration program and Synergy IB's government fund-of-funds, Partner Ahn from hands-on healthcare ventures. The firm's U.S. branch also sources North American deals and cross-border partnership opportunities directly, rather than relying on auction processes.
Is AON Investment structured as a traditional venture capital firm or a company-builder?
AON Investment describes itself as a company-builder-type venture capital firm. Its partners embed directly with portfolio companies, drawing on operator experience — including pharmaceutical practice, IT sales leadership at Oracle, and serial entrepreneurship — rather than functioning solely as financial investors.
What investment stages does AON Investment typically target?
The firm operates across the full early-stage spectrum: seed rounds, startup phases, and expansion or late-stage venture. Its team manages portfolios funded partly through government programs like TIPS, which typically seed very early companies, while maintaining capacity for growth-stage follow-ons.
How is AON Investment connected to the TIPS program?
CEO Jonghyun Lee and Partner Byungkyu Ahn both previously managed the TIPS (Tech Incubator Program for Startup) initiative during their tenures at Synergy IB Investment. AON Investment continues to deploy capital through TIPS-linked vehicles, giving the firm a structured pipeline of early-stage, government-vetted Korean startups.
Does AON Investment have a presence outside South Korea?
Yes. The firm maintains a U.S. branch led by Taekwon Lee, who previously held sales leadership roles at Oracle and served as Korea country head for Spinnaker Support. This office handles North American investments and partnerships, supporting portfolio companies' market entry or expansion strategies in the U.S.
Does AON Investment co-invest alongside other venture firms or institutional investors?
AON Investment's model includes syndication, drawing on relationships built through government fund-of-funds management and cross-border networks. While the firm does not publicly disclose a co-investment policy, its U.S. branch and operator-heavy approach suggest direct deal-level partnerships with both local Korean and North American venture firms.
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