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- Kakao VX
Kakao VX Funding, Investors & Competitors
Kakao VX has raised $113M across 3 funding rounds, most recently a $87M Series C in July 2021.
Last Kakao VX funding round
$87M
Series C · Jul 2021
Cumulative funding Kakao VX raised
$113M
across 3 funding rounds
Key investors in Kakao VX
Korea Investment Partners
KB Securities
Mirae Asset Securities
BTC Investment
Q Capital Partners Co
Velvet No. 1
Kakao VX Overview
About Kakao VX
Kakao VX is a Seoul-based integrator of golf services combining IT with sports facilities. It develops VR simulators for indoor ranges, online booking for courses like Namseoul Country Club, and data analytics for swing analysis via KakaoTalk app. Kakao VX partners with Titleist for equipment and operates 100 screen-based venues nationwide, enhancing user experience with AR coaching since 2017.
Founded
2012
HQ
Website
Status
Privately held
Customer focus
B2C & B2B
Revenue model
Subscription
Kakao VX Funding History
Kakao VX has raised a total of $113M across 3 funding rounds.
Kakao VX's first fundraising round was a $8M Series A in January 2018. The most recent completed round was a $87M Series C in July 2021.
Kakao VX funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Jul 2021 | Series C | Velvet No. 1 (lead) | $87M | Kakao VX is a South Korean subsidiary focused on screen-golf technology and reservation platforms. The company was acquired by Kakao Games in October 2025 as part of a broader strategic restructuring. In that transaction, Kakao Games first repurchased a 34.8 percent stake from financial investors including Velvet No. 1 LLC and other funds for approximately ₩162.3 billion (~$115 million), then sold its complete 100 percent stake in Kakao VX to IVG, a subsidiary of Kakao Investment, for ₩210 billion (~$149 million). Simultaneously, Velvet No. 1 LLC and 2018 QCP No. 13 Private Equity Investment Partnership participated in a paid-in capital increase of ₩108.5 billion (~$77 million) in Kakao Games itself. For the fiscal year ending December 31, 2024, Kakao VX reported sales of ₩111.6 billion and a net loss of ₩24.89 billion. |
| Jan 2019 | Undisclosed stage | Q Capital Partners Co (lead) | $18M | Kakao VX, a South Korean screen golf technology and reservation platform company, received 20 billion won in investments from Q Capital Partners in 2019, equivalent to approximately 17 percent of the company's stake. This investment marked a funding round for the indoor leisure business, which later saw slowed growth post-pandemic. In 2021, Kakao VX was set to attract 100 billion won in a third round of capital increase. By October 2025, Kakao Games sold its entire stake in Kakao VX to IVG, a subsidiary of Kakao Investment, for 210 billion won (around $149-153 million), following a repurchase of a 34.8 percent stake from financial investors for 162.3 billion won to settle shareholder agreements. The transactions reflected external valuation at the time of sale and were part of Kakao Games' restructuring to focus on core gaming operations. |
| Jan 2018 | Series A | KB Securities; Korea Investment Partners; Mirae Asset Securities; BTC Investment | $8M | - |
Who has invested in Kakao VX?
6 investors have backed Kakao VX across its funding rounds, including Korea Investment Partners, KB Securities, Mirae Asset Securities, BTC Investment, Q Capital Partners Co and Velvet No. 1.
Lead investors include Velvet No. 1 and Q Capital Partners Co.
Kakao VX Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 1 | Participant | Jan 2018 | ||
| 1 | Lead | Jul 2021 | ||
| 1 | Participant | Jan 2018 | ||
| 1 | Participant | Jan 2018 | ||
This data is available for Pro users. Sign up to see all 6 Kakao VX investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialKakao VX Competitors
Kakao VX competitors include listed companies like GOLFZON and Disney, and private ones like Hudle, Strava, Hydrow and PushPress.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $2.8B | - | ||
| Private | $500M | - | $1.5B | 3.0x | ||
| Private | - | - | $857M | - | ||
| Publicly listed | $352M | $52M | $155M | 0.3x | ||
| Private | $15M | - | $130M | 8.7x | ||
| Publicly listed | $94B | $19B | $182B | 2.3x |
Kakao VX Public Comps
Kakao VX is still privately-owned, but its public comps include Disney, Live Nation, Oriental Land, Villar Land Holdings, MSG Sports, Life Time Group Holdings, Toho, Light & Wonder, Benefit Systems and Cinemark.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $94B | $19B | 2.4x | 2.3x | 12.3x | 10.3x | |||
| $25B | $1.8B | 1.7x | 1.6x | 23.5x | 16.7x | |||
| $4.5B | $1.5B | 6.8x | 6.7x | 20.3x | 20.1x | |||
| $57M | $22M | 81.8x | - | 209.6x | - | |||
| $1.2B | $39M | 9.1x | 9.2x | 267.1x | 402.4x | |||
| $3B | $872M | 4.4x | 4.0x | 15.1x | 14.4x | |||
| $2.3B | $581M | 3.5x | 3.5x | 14.0x | 15.9x | |||
| $3.3B | $1.1B | 3.4x | 3.3x | 10.3x | 7.5x | |||
This data is available for Pro users. Sign up to see all Kakao VX competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Kakao VX
| When was Kakao VX founded? | Kakao VX was founded in 2012. |
| Where is Kakao VX headquartered? | Kakao VX is headquartered in Seongnam, South Korea. |
| Is Kakao VX publicly listed? | No, Kakao VX is a private, VC-backed company. |
| How much funding has Kakao VX raised? | Kakao VX has raised $113M across 3 funding rounds. |
| What was Kakao VX's last funding round? | Kakao VX's last funding round was a $87M Series C in July 2021, led by Velvet No. 1. |
| Who are Kakao VX's investors? | Kakao VX's investors include KB Securities, Velvet No. 1, Korea Investment Partners, Mirae Asset Securities, Q Capital Partners Co and BTC Investment. |
| Which companies are comparable to Kakao VX? | Companies comparable to Kakao VX include Hudle, Strava, Hydrow, GOLFZON, PushPress and Disney. |
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