Overview
A. Description of the Advisory Firm
Altos Ventures Management, Inc. (“Altos Ventures” or the “Firm”) is a California corporation
formed in February 1996. Altos Ventures currently has eighteen (18) employees (excluding
clerical workers) based in Burlingame, California and; Seoul, Korea. Its principal owners are
Han J. Kim, Hodong Nam and Anthony P. Lee.
B. Types of Advisory Services
Altos Ventures serves as an investment adviser to certain private investment funds, which
are organized as Delaware limited partnerships or limited liability companies (each a “Fund”
and collectively the “Funds”). Affiliates of Altos Ventures serve as the General Partner or
Manager, as applicable, of the Funds. Altos Ventures may also decide in the future to sponsor
or manage additional private investment funds or other clients.
The Funds offer limited partnership or membership interests, as applicable (“Interests”) to
certain qualified investors as described in response to Item 7, below (such investors are
referred to herein as “Investors” or “Limited Partners”).
From time to time Altos Ventures forms and manages, on a transaction-by-transaction basis,
special purpose vehicles (“SPVs”) to participate in investment opportunities, often alongside
the Funds. Unlike
the Funds, which do not limit investment discretion, Altos Ventures is often
limited to investing only in the securities relating to the particular transaction for which the
SPV was created. Collectively, the SPVs and the Funds, will be known as the “Clients”.
Altos Ventures is a venture capital firm. Clients invest primarily in software, mobile, and
internet companies (see Item 8B below) in the United States, South Korea, and elsewhere.
The Fund’s strategy is described in its marketing materials, limited partnership or limited
liability company operating agreement, and subscription documents (collectively, the
“Governing Documents”).
C. Client Tailored Services and Client Imposed Restrictions
Advisory services are tailored to achieve each Client’s investment objectives. Altos Ventures
has the authority to select which and how many portfolio companies to invest in and
determine exit strategies without consultation with its Investors.
D. Wrap Fee Programs
Altos Ventures does not participate in wrap fee programs.
E. Amounts Under Management
As of December 31, 2023, Altos Ventures has more than $7 billion of regulatory assets under
management on a discretionary basis. Altos Ventures does not manage assets on a
nondiscretionary basis.