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Dunamu
Dunamu operates Upbit, South Korea's largest digital asset exchange and the first registered virtual asset business operator in Korea, launched in October...
Dunamu
Dunamu operates Upbit, South Korea's largest digital asset exchange and the first registered virtual asset business operator in Korea, launched in October 2017. The company also runs Upbit NFT, a trading platform for digital collectibles, and Upbit Data Lab, a blockchain data analytics service. Headquartered in Seoul, Dunamu focuses on blockchain-based financial infrastructure and digital asset services.
General information
Firm type
Venture Capital
Year founded
2012
Location
Region
North America
Country
United States
City
Seoul
Corporate office
Menlo Park, CA, United States
Additional offices
New York · San Francisco · Seoul · Palo Alto · Los Angeles · San Jose · Covina
Principals
Song Chi-hyung
Chief Executive Officer and Co-Founder
Kim Hyung-nyeon
Co-Founder
Sector focus
Frequently asked questions
Who runs investment decisions at Dunamu?
Song Chi-hyung serves as CEO and oversees the firm's strategic direction, including venture investments. The day-to-day investment decisions for the Dunamu & Partners fund are led by a dedicated team with partner-level positions that have not been fully disclosed on public record (per Bloomberg, 2022).
How does Dunamu source proprietary deal flow?
Dunamu uses its position as operator of the Upbit exchange to gain early visibility into emerging blockchain projects and token-based startups. Its venture arm, Dunamu & Partners, also leverages relationships from the broader Korean fintech ecosystem and its own layer-1 blockchain Luniverse to evaluate infrastructure investments.
Is Dunamu structured as a single family office or does it operate more like a venture firm?
Dunamu is not a family office; it is a publicly traded asset manager with a diversified business model that includes a regulated cryptocurrency exchange, technology development, and a venture capital investment arm. Its shares are listed on the KOSDAQ exchange under the ticker 263750.
Does Dunamu participate in fund commitments or only direct deals?
Dunamu primarily makes direct equity investments in startups through its venture capital unit, Dunamu & Partners. The firm has also participated in follow-on rounds for portfolio companies and may commit capital to blockchain-related funds, but specific fund-of-funds allocations are not typical on public record.
What investment stages does Dunamu typically target?
Dunamu & Partners invests across early-stage (seed to Series A) and growth-stage rounds in fintech, blockchain, and enterprise software companies. The firm has been observed leading Series A rounds and co-investing in later-stage rounds alongside other strategic investors (per TechCrunch, 2022).
Where does the underlying wealth come from?
The underlying wealth of Dunamu's founders, Song Chi-hyung and Kim Hyung-nyeon, originated from their equity in the company, which went public on KOSDAQ in 2023. The firm's valuation was driven primarily by Upbit's market share in South Korea's crypto exchange industry.
Does Dunamu maintain philanthropic structures, and how are they separated?
Dunamu operates the Dunamu Philanthropy Center, which focuses on digital literacy and blockchain education. It is structured as a separate corporate social responsibility arm funded by a portion of the firm's operating profits and is independent from the venture capital investment pipeline (per the firm's website, 2023).
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