South Korean venture capital firm SV Investment Corp., which gained recognition as an early investor of the music label that created the K-pop sensation BTS, is set to go public on the country’s secondary Kosdaq market early next month.

SV Investment plans to issue 3.9 million shares at a price band of 5,600 won ($5.06) to 6,300 won apiece to raise 21.8 billion to 24.6 billion won. The two-day book building session will take place on June 21-22, followed by a public subscription on June 27-28.

With the public offering, the company’s market cap is expected to reach 170 billion won with 26,617,000 outstanding shares.

Founded in 2006, SV Investment has been rapidly expanding its portfolio from IT and contents to bio and health care, with eyes on potential investment opportunities overseas.

The firm has backed Big Hit Entertainment, the label behind the hugely popular boy band BTS, as early as 2011. Also known as the Bangtan Boys, the seven-member boy group debuted in 2013 and has recently taken the world by storm by becoming the first K-pop act to hit No. 1 on the Billboard 200. SV Investment has reportedly recouped more than 100 billion won from its total 4 billion won investment in the management company.

Its investment is not limited to local companies. The venture capital firm also raised Korea’s first fund dedicated to Chinese health care sectors and is currently readying a $100 million fund with another U.S. VC firm Kensington Capital Ventures.

For the fiscal year ended March 2018, SV Investment posted an operating profit of 7.56 billion won and net profit of 6.15 billion won on revenue of 17.9 billion won. This marks a 192 percent and 67 percent jump in operating profit and revenue, respectively, compared to 2016.

Its assets under management stood at 630 billion won as of last year, with the venture fund amount totaling 530 billion won. Last year, it ranked 10th among the 120 domestic venture capital firms registered under the Ministry of SMEs and Startups, a relatively high standing for an independent VC firm that is not under a financial parent company.

By Cho Hee-young and Kim Hyo-jin

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