About Capstone Partners
Capstone Partners is a venture capital firm founded in 2008. It is primarily based out of Seoul, South Korea. As of Aug 2026, Capstone Partners is an active investor, having invested in 165 companies, with 4 new investments in the last 12 months. It primarily invests in Seed round in South Korea based startups. Its investments are spread across a wide range of sectors from Enterprise Applications to High Tech and Gaming. Most recently it participated in the $***** Series B round of NdotLight Overall, Capstone Partners portfolio has seen 3 unicorns, 6 IPOs and 12 acquisitions including key companies like Kurly, FADU and Sendbird. A lot of funds co-invest with Capstone Partners, with names like KB Securities sharing a substantial percentage of its portfolio. Capstone Partners has team of 6 people including 2 partners.Key Metrics
Team Members
Portfolio Count
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Seed, Series A & 4 more
Portfolio Acquisitions
Portfolio Soonicorns
Capstone Partners' List of Top Investments
Capstone Partners has a portfolio of 165 companies, including 3 unicorns. Their most notable investments are in NerdGames and DOLOBOX.Their portfolio spans across South Korea, United States, Canada and 1 more locations. They have invested in Enterprise Applications, High Tech, Gaming and 32 other sectors, across stages such as Seed, Series A and 4 more. Here is the list of top investments by Capstone Partners:
1. Kurly
Online platform offering groceries. The product catalog includes fruits, vegetables, household items, meat, bakery products, salads & snacks, and more. It also offers beauty care products, household products & kitchen utensils, and more.
Key facts about Kurly
- Founded Year: 2015
- Location: Seoul (South Korea)
- Annual Revenue: $1B+ as on Dec 31, 2025
- Valuation: $*****
- Stage: Series G
- Total Funding till date: $654M
- Employee Count: 643 as on May 31, 2026
- Investors: DST Global, Millennium Management and 31 Others
- Latest Funding Round: Series G, May 06, 2026, $*****
- Highlight: Editors' Pick
2. LINE Games
Mobile game developer & publisher of mid-core genres. The company specializes in developing mid-core games such as role-playing, first-person shooter, MMO, etc. Some of the games developed by the company include Exos Heroes, First Summoner, Destiny Child, Dragon Flight, etc. These games are available on the Android & iOS platforms. It generates revenue through in-app purchases. The upcoming game is TPS RPG for the PC platform.
Key facts about LINE Games
- Founded Year: 2017
- Location: Seoul (South Korea)
- Annual Revenue: $50M - $100M as on Dec 31, 2022
- Stage: Series A
- Total Funding till date: $10.8M
- Employee Count: 138 as on Jun 30, 2026
- Investors: BITKRAFT Ventures, Capstone Partners and 6 Others
- Latest Funding Round: Series A, Aug 09, 2022, $*****
- Highlight: Editors' Pick
3. My Real Trip
Online retailer of tours, tickets, accommodations, and travel-related services. It provides a platform for booking various travel experiences. These include guided tours, attraction tickets, lodging, and transportation options. The platform facilitates connections between travelers and local service providers.
Key facts about My Real Trip
- Founded Year: 2012
- Location: Seoul (South Korea)
- Annual Revenue: $10M - $50M as on Dec 31, 2023
- Stage: Series F
- Total Funding till date: $98.9M
- Employee Count: 272 as on May 31, 2026
- Investors: Partech Partners, Altos Ventures Management and 16 Others
- Latest Funding Round: Series F, Jan 19, 2024, $*****
- Highlight: Editors' Pick
4. FADU
Developer of customizable SSD controllers and firmware. This company designs and builds SSDs, offering both turnkey solutions and components for clients to integrate into their own designs. They provide customized firmware to meet specific customer needs, enabling unique SSD solutions. The company also offers flash consignment services, encompassing design, customization, manufacturing, branding, and packaging.
Key facts about FADU
- Founded Year: 2015
- Location: Seoul (South Korea)
- Annual Revenue: $10M - $50M as on Dec 31, 2022
- Valuation: $*****
- Stage: Series B
- Total Funding till date: $32.2M
- Employee Count: 498 as on Jun 30, 2026
- Investors: Smile Gate Investment, Positive Investment and 6 Others
- Latest Funding Round: Series B, Mar 03, 2023, $*****
5. Moin
Moin is a blockchain-based international money transfer service that allows users to send money at lower rates, and reduce the time for the solution. The company is in stealth mode as of September 2016.
Key facts about Moin
- Founded Year: 2016
- Location: Seoul (South Korea)
- Stage: Series A
- Total Funding till date: $2.42M
- Employee Count: 66 as on Jun 30, 2026
- Investors: Strong Ventures, The Wells Investment and 6 Others
- Latest Funding Round: Series A, Jan 02, 2018, $*****
- Highlight: Editors' Pick
Capstone Partners' Year-on-Year Investment Trends
Capstone Partners has invested in 165 companies over the last 15 years, with an average of 3 new investments annually in the last 10 years. In 2025, it made 2 investments, while as of Aug 2026, it has made 2 investments in this year. Its most recent first time investment was in NdotLight and most recent follow-on round was in AKUODIGITAL.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 2 | 0 | 2 |
2025 | 2 | 0 | 2 |
2024 | 6 | 0 | 6 |
2023 | 3 | 0 | 3 |
2022 | 5 | 0 | 5 |
2021 | 1 | 1 | 2 |
2020 | 2 | 0 | 2 |
2019 | 0 | 0 | 0 |
2018 | 0 | 2 | 2 |
2017 | 5 | 1 | 6 |
Capstone Partners' Investments by Stage
Capstone Partners has made 17 investments in Seed stage with an average round size of $2.75M, 11 investments in Series A stage with an average round size of $4.52M and 4 investments in Series B stage with an average round size of $15.1M.Stage of entry | No. of Investments |
|---|---|
Seed | 17 |
Series A | 11 |
Series B | 4 |
PE | 1 |
Post IPO | 1 |
Others | 1 |
Note: We have considered here, only first round of investments
Capstone Partners' Investments by Sector
Capstone Partners has a diverse portfolio, with companies operating in the Enterprise Applications, High Tech, Consumer, HealthTech and FinTech. Notably, it has invested in 118 Tech companies, 87 Consumer (B2C) companies, 73 Software companies and at least 49 companies focusing on Enterprise (B2B).Sector | No. of Investments |
|---|---|
Enterprise Applications | 10 |
High Tech | 10 |
Consumer | 9 |
HealthTech | 4 |
FinTech | 3 |
Others | 43 |
Note: We have considered here, only first round of investments
Capstone Partners' Investments by Geography
Capstone Partners has made most investments in South Korea (31), followed by United States where it has made 3 investments.Country | No. of Investments |
|---|---|
South Korea | 31 |
United States | 3 |
Canada | 1 |
Note: We have considered here, only first round of investments
Capstone Partners' recent investments
Capstone Partners has made 2 investments in 2026 so far - NdotLight and rapeech.Here are the most recent investments by Capstone Partners:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Aug 10, 2026 | South Korea | Series B | 6331 | ||
Apr 02, 2026 | - | Post IPO | 8146 | - | |
Oct 30, 2025 | South Korea | Series A | 6314 | [+3] | |
Aug 29, 2025 | United States | Seed | 2591 | [+3] | |
Nov 15, 2024 | South Korea | Seed | 9813 | [+1] |
Unicorns in Capstone Partners' Portfolio
Capstone Partners has 3 unicorns in its portfolio - FADU, Kurly and Sendbird. The most recent unicorn in their portfolio is FADU. It became a unicorn in 2023, 3 years before Capstone Partners first invested in it.Here is a list of unicorns in Capstone Partners' portfolio:
Tracxn Score | Company | Short Description | Founded year | Sector | Location | Company Stage | First Investment/ Acquisition Details |
|---|---|---|---|---|---|---|---|
71 | Developer of customizable SSD controllers and firmware | 2015 | Seoul | Series B | omiotnh | ||
80 | Online platform offering groceries | 2015 | Seoul | Series G | wny{cmd | ||
63 | Developer of communication infrastructure and artificial intelligence customer service agents | 2013 | San Mateo | Series C | yestxfv |
IPOs and Publicly Listed companies in Capstone Partners' Portfolio
6 of Capstone Partners' portfolio companies have become public. SECUCEN got listed on the Korea Exchange (KRX), in Jun 2023 at marketcap of $66.6M and rapeech got listed on the Korea Exchange (KRX).Here are Capstone Partners' portfolio companies that went public:
Company | IPO Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Jun 29, 2023 | - | - | 7840 | |
Dec 14, 2021 | Apr 02, 2026 | Post IPO | 8242 | |
Feb 03, 2021 | - | - | 6728 | |
Nov 02, 2018 | - | - | 4804 | |
Mar 27, 2015 | - | - | 5780 |
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Acquired companies in Capstone Partners' Portfolio
12 companies from Capstone Partners' portfolio have been acquired. The most recent acquisition was PUBLY in Sep 2024 by Seesaw for $*****.Here are Capstone Partners' portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Sep 20, 2024 | - | - | 3264 | |
Jan 16, 2024 | 2022 | Seed | 2679 | |
Dec 22, 2023 | - | - | 8005 | |
Jun 23, 2022 | - | - | 9790 | |
May 17, 2021 | Nov 2011 | Seed | 3640 |
Team profile of Capstone Partners
Capstone Partners has a team of 6 members including 2 Partners and 1 Principal located in South Korea. Capstone Partners' team does not sit on the board of any company as of now.Here is a list of all team members in Capstone Partners:
Name | Designation | Location | Board Memberships | Contact Details |
|---|---|---|---|---|
Partner | South Korea | - | ||
Partner | - | - | - | |
Principal | - | - | - |
Co-investors of Capstone Partners
Over the past 15 years, 143 investors have co-invested in Capstone Partners's portfolio companies. This includes funds and angels.
- Invested before Capstone Partners: SparkLabs, Capstone Partners and 23 others have invested in rounds before Capstone Partners. There are 3 companies where SparkLabs has invested before Capstone Partners and 2 companies where Capstone Partners has invested before Capstone Partners.
- Top Co-investors of Capstone Partners: 70 investors entered a company along with Capstone Partners. These include investors like KB Securities (3 companies).
- Invested after Capstone Partners: A total of 48 investors have invested in Capstone Partners's portfolio after their investments. Top Investors include Korean Development Bank (4 companies), SV INVESTMENT (2 companies) and Industrial Bank of Korea (2 companies).
Recent News related to Capstone Partners
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Capstone Partners rises every day after listing on KOSDAQVenture Square•Nov 16, 2023•Capstone Partners
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Patty-cooking robotics startup Aniai completes seed fundingKedglobal•Feb 21, 2023•Aniai, Capstone Partners, Lotte Ventures
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Money transfer platform MOIN raises USD 2M to expand to smaller markets in AsiaAllTechAsia•Jan 02, 2018•Moin, The Wells Investment, Capstone Partners, Strong Ventures and 1 other
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Korean startup raises $1.6m so employees can clock in on their phonesTech in Asia•Nov 21, 2016•Albam, Capstone Partners, Kolon Investments
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Tencent（騰訊）が海外マーケットで20億米ドルを投資した全リスト - THE BRIDGE（ザ・ブリッジ）THE BRIDGE•Oct 31, 2013•Nextplay, Capstone Partners, Tencent
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