About TBT
TBT is a venture capital firm located in Seoul, South Korea. As of Dec 2025, TBT has invested in 61 companies. It primarily invests in Series A round in South Korea based startups. Its investments are spread across a wide range of sectors from Retail to Enterprise Applications and Consumer. Most recently it participated in the $***** Series D round of Integration Overall, TBT portfolio has seen 3 acquisitions, namely Sandbox, ST Unitas and Voithru. A lot of funds co-invest with TBT, with names like Company K Partners sharing a substantial percentage of its portfolio. TBT has team of 14 people including 5 partners.Key Metrics
Team Members
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Series A, Series B & 2 more
Portfolio Soonicorns
Deals in last 12 months
TBT's List of Top Investments
TBT has a portfolio of 61 companies. Their most notable investments are in Soomgo and Lilycover.Their portfolio spans across South Korea, United States and United Kingdom. They have invested in Retail, Enterprise Applications, Consumer and 26 other sectors, across stages such as Series A, Series B and 2 more. Here is the list of top investments by TBT:
1. Soomgo
Online lead generation platform for local services. It allows users to request for services across various categories such as home cleaning, home maintenance, handyman work, fitness trainers, tutors, and more on the platform. The company circulates such a request to relevant local professionals who submit price quotations for the request. It allows users to compare the quotes and choose a service provider that meets the requirements.
Key facts about Soomgo
- Founded Year: 2014
- Location: Seoul (South Korea)
- Stage: Series C
- Total Funding till date: $46.5M
- Employee Count: 108 as on May 31, 2026
- Investors: Script Capital, 122 West Ventures and 17 Others
- Latest Funding Round: Series C, Jun 14, 2021, $*****
- Highlight: Editors' Pick
2. Upstage
Provider of AI platform for multiple task management. It provides an environment in which customers can focus on their core business by resolving challenges that customers face in the process of integrating AI technology at once, and by streamlining the resources required for AI technology development and maintenance.
Key facts about Upstage
- Founded Year: 2020
- Location: San Jose (United States)
- Stage: Series C
- Total Funding till date: $285M
- Employee Count: 245 as on Jun 30, 2026
- Investors: Amazon, Shinhan Venture Investment and 21 Others
- Latest Funding Round: Series C, Apr 15, 2026, $*****
- Highlight: Editors' Pick
3. SentBe
Cross-border remittance solution. Users can receive money through banks, cash pick up, home delivery, etc. It offers a mobile app for iOS and Android platforms.
Key facts about SentBe
- Founded Year: 2015
- Location: Seoul (South Korea)
- Stage: Series C
- Total Funding till date: $24.1M
- Employee Count: 134 as on Jun 30, 2026
- Investors: Hanwha, Rapyd and 15 Others
- Latest Funding Round: Series C, Sep 13, 2022, $*****
- Highlight: Editors' Pick
4. Sky Labs
Internet first brand offering rings for fitness tracking. The company offers smart rings in various sizes to track fitness. The ring has features like ECG monitoring, PPG monitoring, atrial fibrillation detection, etc. It also provides an app that can be connected to with smart ring to get real-time analysis on the smartphone. Its mobile app is available for Android and iOS users.
Key facts about Sky Labs
- Founded Year: 2015
- Location: Seongnam-si (South Korea)
- Stage: Series C
- Total Funding till date: $42M
- Employee Count: 36 as on Jun 30, 2026
- Investors: Korea Development Bank Europe, LB Investment and 15 Others
- Latest Funding Round: Series C, Nov 04, 2025, $*****
- Highlight: Editors' Pick
5. Rael
Internet-first brand offering skincare and personal hygiene products. The product catalog includes pads, tampons, period panties, liners, and more. It also includes products like creams, acne patches, hand wipes, toothpaste, and more. The platform offers a quiz to customize subscription-based boxes.
Key facts about Rael
- Founded Year: 2017
- Location: Los Angeles (United States)
- Stage: Series B
- Total Funding till date: $59M
- Employee Count: 130 as on Jun 30, 2026
- Investors: SBVA, Unilever Ventures and 12 Others
- Latest Funding Round: Series B, Apr 06, 2022, $*****
- Highlight: Editors' Pick
TBT's Year-on-Year Investment Trends
TBT has invested in 61 companies over the last 7 years, with an average of 2 new investments annually in the last 5 years. In 2025, it made 1 investment. Its most recent first time investment was in Two Slash Four and most recent follow-on round was in Integration.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 0 | 0 | 0 |
2025 | 0 | 1 | 1 |
2024 | 1 | 1 | 2 |
2023 | 2 | 0 | 2 |
2022 | 6 | 1 | 7 |
2021 | 4 | 1 | 5 |
2020 | 1 | 0 | 1 |
2019 | 2 | 0 | 2 |
TBT's Investments by Stage
TBT has made 7 investments in Series A stage with an average round size of $10.1M, 4 investments in Series B stage with an average round size of $11.8M, 3 investments in Seed stage with an average round size of $1.75M and 2 investments in Series C stage with an average round size of $20M.Stage of entry | No. of Investments |
|---|---|
Series A | 7 |
Series B | 4 |
Seed | 3 |
Series C | 2 |
Note: We have considered here, only first round of investments
TBT's Investments by Sector
TBT has a diverse portfolio, with companies operating in the Consumer, Enterprise Applications, Gig Economy, Retail and Auto Tech. Notably, it has invested in 45 Tech companies, 30 Consumer (B2C) companies, 20 Enterprise (B2B) companies and at least 20 companies focusing on Software.Sector | No. of Investments |
|---|---|
Consumer | 7 |
Enterprise Applications | 4 |
Gig Economy | 3 |
Retail | 3 |
Auto Tech | 2 |
Others | 17 |
Note: We have considered here, only first round of investments
TBT's Investments by Geography
TBT has made most investments in South Korea (14), followed by United States where it has made 2 investments.Country | No. of Investments |
|---|---|
South Korea | 14 |
United States | 2 |
Note: We have considered here, only first round of investments
TBT's recent investments
TBT has not made any investment in 2026 so far.Here are the most recent investments by TBT:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Dec 24, 2025 | South Korea | Series D | 8672 | ||
Jul 29, 2024 | South Korea | Seed | 1795 | ||
Apr 02, 2024 | South Korea | Series C | 9748 | ||
Jan 18, 2023 | South Korea | Series C | 4783 | [+6] | |
Jan 17, 2023 | South Korea | Series B | 3624 | [+3] |
Acquired companies in TBT's Portfolio
3 companies from TBT's portfolio have been acquired. The most recent acquisition was ST Unitas in Oct 2022 by Megastudy for $*****.Here are TBT's portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Oct 20, 2022 | - | - | 7543 | |
Jun 01, 2022 | - | - | 3839 | |
Aug 23, 2016 | - | - | 1440 |
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Team profile of TBT
TBT has a team of 14 members including 5 Partners, 1 Venture Partner and 1 Principal located in South Korea. TBT's team does not sit on the board of any company as of now.Here is a list of top team members in TBT:
Name | Designation | Location | Board Memberships | Contact Details |
|---|---|---|---|---|
Partner | Seoul | - | ||
Partner | - | - | - | |
Partner | Seoul | - | - | |
Partner | - | - | - | |
Partner | - | - | - | |
Venture Partner | - | - | - | |
Principal | - | - | - |
Co-investors of TBT
Over the past 7 years, 96 investors have co-invested in TBT's portfolio companies. This includes funds and angels.
- Invested before TBT: D3 Jubilee Partners, SparkLabs and 23 others have invested in rounds before TBT. There are 2 companies where D3 Jubilee Partners has invested before TBT and 2 companies where SparkLabs has invested before TBT.
- Top Co-investors of TBT: 41 investors entered a company along with TBT. These include investors like Company K Partners (2 companies).
- Invested after TBT: A total of 30 investors have invested in TBT's portfolio after their investments. Top Investors include Korean Development Bank (3 companies), We Ventures (1 company) and IBX Partners (1 company).
Recent News related to TBT
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Meditech ‘Initiation’, attracting KRW 23.1 billion Series C investmentWowtale•Apr 02, 2024•MEDITECH, Korea Development Bank Europe, IBX, TBT and 6 others
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PeopleFund raises $20M Series C extension to further develop its credit-scoring systemTechloy•Jan 18, 2023•People's Fund, Bain Capital, Access Ventures, CLSA Capital Partners and 5 others
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SwatchOn Raises $10M in FundingFinSMEs•Apr 22, 2022•SwatchOn, Pavilion Capital Partners, TBT, Kakao Ventures
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Tech startup Upstage attracts $27 mn via Series A fundingPulse•Sep 03, 2021•Upstage, Company K Partners, SoftBank Ventures Asia, Stonebridge Capital and 7 others
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Reiwa Raises $20 Million for Better Tour PackagingSkift•Jul 09, 2021•Reiwa, TBT, QUAD, Korean Venture Capital Association
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Stayfolio raises $4.5M to expand upmarket accommodation platformPhocusWire•Jul 06, 2021•Stay Folio, TBT, Quad Partners,
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