The daily temperature

*The daily temperature difference is really... What kind of wind is blowing like this? Kilker is a night I want to eat 17CS.

*No.1. I think it's a title that says, "Is the wind of bio-investment money?" but it's an article that only the phenomenon of the poor and the rich is getting stronger. There are many new platforms, treatment companies that receive 20 billion to 40 billion won, but the cold winter is still in the bio as a whole. It's like looking at the stock market where big tech, semiconductor companies are taking care of the index..

*No. 2.. The Financial Services Commission announced a plan to improve the 2025 IPO system. It is so important that only a summary is given. 1) Increase in the mandatory disclosure points period for institutional investors from 3 months to 6 months 2) Limit participation in demand for non-payment, violation of commitments, and non-subscription 3) The main points include the cornerstone system of the organizer (allocated to institutional investors in advance and given a period of commitment), improvement of the evaluation regulations for the organizer's public offering shares, and presentation of public offering prices that reflect market opinions. The system of commercial closure was also improved, but it was not directly related to the VC industry and start-ups, so it was excluded. The most important thing is to add additional points for the mandatory holding commitment period from 3 months to 6 months...

*Number 4... It's still a trend for ACs to take a dual license with VC. There are already 4 new VCs this year, and 2 of them are AC. Gravity Ventures, Painters & Ventures.. According to reports, Future Play is the beginning for AC to register as a VC, but it's not that, but it keeps being a reference. Anyway, this is called Ternd these days...

*No. 5.. SM Culture Partners did not register as a new company but registered as a VC. Its capital is 50 billion won. But the reason is that SM itself had a management dispute and Kakao is suspected of manipulating stock prices. When the Financial Supervisory Service gives a new company license, the biggest consideration is the requirement for major shareholders, and based on this standard, it is estimated that SM was not able to meet the new company license. Well... According to SM's shareholder composition, Kakao is 20.7%, Kakao Entertainment is 19.11%, and Hive is under Eso. There was a dispute over management rights with Hive and Kakao. There are allegations of stock price manipulation. If Kakao Enter is also a subsidiary of Kakao, and if SM becomes a subsidiary of Kakao, it is a subsidiary of Kakao..; It is a mess of grandchildren and great-grandchildren..

*Number 6... The Zone Bizon is registered as AC. When I was a judge, I was a house that invested hard with AC. When electronic newspapers were incorporated into subsidiaries, they were ordered to correct them in violation of the regulations on not holding subsidiaries under the Venture Business Act. We can't abandon the subsidiary... Maybe we'll return AC. I'm going to be troubled internally..

*No. 9... Start-ups are going out of business, and MZ jobs are threatened as they go to the United States. I think the closure of startups is a little bit seasonal, and startups going to the United States are not even 10-20% of all IT startups. This is an article that I think is a little exaggerated. And the title has MZ jobs, but the article doesn't even mention a few sentences in the long article. MangoBoost Flip. Yes, it's an example of a company that has been started overseas. And these are two companies I mentioned like this, and flip is not that easy..

1) BioVC Investment Breaks 1 Trillion Last Year...We've got a lot of money in here
According to the Korea Venture Capital Association on the 19th, new investments in the bio and medical sectors last year amounted to KRW 1.695 trillion, an increase of 20.8% year-on-year. The bio and medical sectors accounted for 16.1% of all new investments. New investments in the bio and medical sectors exceeded KRW 1 trillion between 2020 and 2022, but contracted to KRW 884.4 billion in 2023. In particular, new investments continued to increase every quarter, with KRW 156.3 billion in the first quarter → KRW 264.5 billion in the second quarter → KRW 331.6 billion in the third quarter → KRW 317.1 billion in the fourth quarter. Mainly, investments in areas and platforms that develop new treatments have attracted attention. Add Bio, which develops new ADC drugs, Ubix Therapeutics, which develops new TPD drugs (25.7 billion), and Pinterest, another TPD company, also received KRW 20 billion. On the platform, gene therapy developer companies Ayndit (47.3 billion) and Pine Tree Therapeutics (23.5 billion). Fine Therapeutics, in particular, has made up a remarkable achievement of receiving KRW 23.5 billion from Series A. However, industry officials say that the rich and poor are still severe to judge that there is still a strong wind

2) Improvement of IPO System...Financial Services Commission presents new milestones in capital markets
On the 21st of last month, the Financial Services Commission announced plans to improve the initial public offering (IPO) and delisting system. To summarize some of the attention, the period of mandatory holding of institutional investors has been strengthened. The additional points that need to be guaranteed for three months are changed to those that need to be guaranteed by six months. In addition, at least 40% of the institution's allocation will be allocated first to institutions that pledge to hold obligatory holdings. Penalties of restrictions on participation in demand forecasting will be given to violations of commitments, non-subscription, and non-payment. During the demand forecasting process, the qualification requirements for demand forecasting participants were strengthened, and restrictions were also placed on bypass channels for foreign investors such as paper companies and indirect funds. The organizer also introduced the 'Cornerstone Investor System' and the 'Private Demand Forecasting System'. The Nerstone investor system is a method of inducing mid- to long-term investment by allocating stocks to institutional investors before listing, but not selling them for a certain period of time (protective Jesus). At the stage of determining the scope of the offering price of the preliminary demand forecast, the public offering price is determined more appropriately by reflecting the market evaluation. The internal allocation criteria for public offering shares by the organizer will also be specified, and the mandatory holding period of stocks acquired within six months of applying for a preliminary listing review will be increased from one month to three months to reduce short-term gains and induce corporate value to be properly reflected in the IPO process.

3) Construction Workers Mutual Aid Association launches '50 billion' investment project
According to the investment bank (IB) industry on the 20th, the Construction Workers' Mutual Aid Association recently announced a recruitment announcement to select a total of four domestic PE and VC blind fund GPs. It plans to invest 20 billion won each in two PEF management companies and 5 billion won each in two VC management companies. The final PEF GP is required to create blind funds worth a total of 100 billion won or more and 300 billion won or less, and must invest more than 1 percent of the total fund formation. The investment period is five years after the establishment of the fund