Starting 2021
In 2020, our fourth year, Yellowdog continued to run forward, investing 18.2 billion won in 11 companies. To respond properly to the repercussions of COVID-19, we communicated more actively with portfolio companies, and made an effort to provide the necessary support at the right time. Luckily, most of our portfolio companies used the changes caused by the pandemic as positive momentum for growth, and adapted quickly by engaging with their clients online. We were amazed by the entrepreneurs’ resilience and powers to execute. We felt fortunate to have witnessed them up close.
2020 was an incredible year. It wasn’t just the COVID-19 pandemic. The Black Lives Matter movement swept the U.S, after the death of George Floyd by police; Ruth Bader Ginsburg, the Supreme Court Justice, passed away; the Korean movie Parasite dominated the Oscars. Out of habit, we always say, ‘Another eventful year has gone.’ But 2020 gave a whole new meaning to the common phrase. It was a year of upheaval; a year that pronounced, more clearly than ever, the signs that one era was ending, and another beginning.
Among the signs of change, Yellowdog paid the most attention to the wildfires in Australia and western U.S, both of which persisted for over a month, and the longest ever monsoon season in South Korea, which continued for over 50 days. To Koreans, living mid-latitude in the Northern hemisphere, climate change was previously a numerical symbol. Last year’s monsoon made us aware of how severe of a physical threat climate change can be. Our planet is getting hotter. Of course, it isn’t that we didn’t know before, that climate change would pose a fundamental crisis. Climate solutions have been a central impact domain since the inception of Yellowdog, an investor aiming to create positive impact. But it’s also a domain we haven’t been able to invest in as much as we would have liked. In 2020, Yellowdog realized that we must no longer hide behind the words, ‘There aren’t enough companies to invest in.’ All that these words signify, is that we have not understood climate change in its seriousness and severity.
Starting from 2021, Yellowdog declares climate solutions as our most important domain of investment. Within this realm, we will put our best foot forward, in search of investment approaches that are the most sensible for startups, fund investors, and our society. We believe these efforts will inevitably go hand-in-hand with the enormous trends of the investment market in the next 10 years. Through our efforts, we hope to connect more people and bring forces together.
Hyunjoo Je
CEO & Managing Partner
