NCore Ventures

NCore Ventures is a Seoul, South Korea-based venture capital firm founded in 2017 that focuses on mid- to late-stage technology investments across the United States and Asia. Led by CEO Ryan Park and CFO Jean Yang, the firm operates with a lean team of four and invests primarily at Series A and Series B across Indonesia, Japan, Singapore, South Korea, the United States, and Vietnam. Sector coverage spans consumer, enterprise applications, healthtech, and other high-growth technology categories. NCore has made 43 investments and built a portfolio with an outsized return profile: 7 unicorns, 4 IPOs, and 1 acquisition to date. Notable portfolio companies include Blinkit, the Indian quick-commerce platform acquired by Zomato in June 2022 for $568 million; GrubMarket, a US online grocery and food supply-chain platform; Carro, a Southeast Asian automotive marketplace; Lunit, an AI medical imaging company listed on the Korea Exchange at a market capitalization of $241 million; and Xcell Therapeutics, which listed on KRX in July 2024 at a $78.2 million market cap. More recent additions include Btree, an electronic instruments company in which NCore invested in November 2024, and Galux, a Series B investment made in February 2026. NCore's investment thesis is centered on identifying companies at the inflection point between early-stage validation and meaningful scale, where the firm's regional network across Asia and the United States provides a distinct advantage in both deal sourcing and portfolio support. Its track record of backing multiple unicorns across diverse geographies underscores the breadth of its analytical lens.