Kelpie Capital
Seoul · Korea · Japan

KOREA.
JAPAN.
DONE RIGHT.

Kelpie Capital opens doors in Northeast Asia that protocols cannot open themselves - tier-1 corporate partnerships, exchange listings, and selective investment, backed by the trust architecture that determines whether any of those actually works.

01 — Partnerships

Corporate BD
Northeast Asia

Direct introductions and partnership structuring with Korea and Japan's tier-1 corporates. Eight years of relationships at the top of the regional ecosystem, not LinkedIn, working relationships.

Korean chaebol and tech sector introductions
Japanese institutional partnership structuring
Cultural and strategic positioning per market
Co-investment where the opportunity is clear
Discuss a partnership
02 — Exchange

Upbit & Bithumb
Listings

Direct relationships with Korea's two dominant exchanges. A listing is a trust and positioning exercise - most protocols fail before they even submit. We make sure you arrive right.

Listing readiness assessment
Korean market narrative and positioning
Community and marketing pre-listing
Exchange relationship management
Discuss a listing
03 — Investment

Selective
Co-Investment

We take positions in protocols where the Korea and Japan opportunity is structurally underpriced. Every investment is backed by the same BD and exchange access we offer as a service. No passive checks.

Seed to Series A and token positions
Investment paired with active market entry
Korea/Japan asymmetry as the core thesis
We invest where we can act
Discuss investment
How it works
Partnerships
01
Protocol assessment
We evaluate technology, token economics, and positioning. We only make introductions for protocols we can stand behind.
02
Target mapping
Specific partners identified by strategic fit - not a spray approach, a precise match to their priorities.
03
Warm introduction
How you arrive matters in Korea and Japan as much as what you bring. We position you correctly before the first meeting.
04
Deal structuring
We stay in the room through negotiation - cultural navigation, deal structure, follow-through until signed.
Exchange Listing
01
Listing readiness audit
We assess against what Upbit and Bithumb actually look for. Most protocols are not ready when they think they are.
02
Market preparation
Korean narrative, community presence, and marketing foundation built before the application. A listing landing in a prepared market performs.
03
Exchange engagement
Direct engagement through eight years of relationships at the top of the Korean ecosystem. The introduction arrives with credibility.
04
Post-listing support
Volume strategy, community growth, and ongoing exchange relationship management. The listing is not the end.
Investment
01
Protocol evaluation
Technology, token economics, team, and the specific Korea/Japan opportunity assessed. We only invest where we see genuine asymmetry our network can unlock.
02
Thesis alignment
Investment only where Kelpie Capital can actively create the outcome - through BD, exchange relationships, or strategic positioning.
03
Terms and structure
Equity, token warrants, or hybrid structures depending on stage and fit. Long-term alignment over short-term extraction.
04
Active value creation
From day one the same network activates - Korea/Japan introductions, exchange relationships, positioning that compounds.
The Exchanges
Upbit
Korea's dominant exchange · #1 by volume

Getting listed on Upbit is a trust decision, not a form submission. The exchange evaluates credibility, community, and Korean market presence holistically. Most protocols don't understand this until it's too late.

Largest crypto exchange in Korea by spot volume
Operated by Kakao-backed Dunamu - institutional weight
Korean retail follows Upbit listings closely
Direct relationship required for serious consideration
Bithumb
Korea's second exchange · institutional depth

Korea's second largest exchange with significant institutional and OTC depth. A dual listing on both Upbit and Bithumb signals full Korean market commitment and dramatically increases your protocol's visibility and liquidity profile.

Strong OTC and institutional trading volume
Complementary audience to Upbit - broader coverage
Separate relationship and application process
Dual listing is best practice for Korea strategy
Coinone
Korea's third exchange · retail & mid-tier

One of Korea's five fully registered exchanges with a loyal retail user base. A Coinone listing broadens domestic reach beyond the Upbit/Bithumb duopoly and signals comprehensive Korean market commitment.

Fully registered with Korea's Financial Intelligence Unit
Active retail community with distinct user overlap
Useful complement to a primary Upbit or Bithumb listing
Gopax
Binance-backed · emerging player

Acquired by Binance in 2023 and fully approved by Korean regulators in October 2025. Gopax is now Binance's Korean hub - bringing global liquidity and infrastructure into the domestic market and beginning to challenge the Upbit/Bithumb duopoly.

67% owned by Binance - global liquidity and infrastructure
Regulatory approval completed October 2025
Positioned as the fastest-growing Korean exchange to watch
Strategic listing here signals Binance ecosystem alignment
Track Record
$260M
Raised across 33 projects · fundraise
50+
Projects advised on protocol strategy & BD
33
Tier-1 exchange listings facilitated
2018
Operating in Korean & Japanese markets
12Upbit listings
11Bithumb listings
7Binance spot listings
3Coinbase listings
Notable Partnerships Facilitated
Elrond (MultiversX) × Samsung Electronics
Samsung Blockchain Wallet Integration

Structured and facilitated the partnership between Elrond (now MultiversX) and Samsung Electronics, resulting in ERD token integration into the Samsung Blockchain Wallet and a Galaxy Store exclusive DApp. Covered by The Block and widely reported across crypto media.

Hdac Technology × CasperLabs
Hyundai-Backed Blockchain · Korea/Global Partnership

Worked with Hdac Technology - the blockchain venture founded by Hyundai BS&C CEO Dae Sun Chung and backed by the Hyundai group - on partnership and ecosystem development, including their strategic MOU with CasperLabs. Hdac's enterprise blockchain was applied across Hyundai manufacturing and IoT infrastructure, reported by CoinDesk and PR Newswire.

Why Kelpie
01
Already in the room

Eight years of working relationships at the top of the Korean and Japanese crypto ecosystem. Korea Blockchain Week, Samsung Electronics, OECD, CoinTelegraph Korea. Not connections - history.

02
Both sides of the table

A PhD in Economics from Seoul National University and M&A experience at Morgan Stanley. We understand what Korean and Japanese institutions need to see - structurally, economically, and culturally.

03
Every engagement is personal

Kelpie Capital is not a team with analysts. Every engagement is handled personally by Alexandre. When we put our relationships on the line for your protocol, it means something real.

Markets
🇰🇷
Korea
Primary · Highest priority

One of the highest per-capita crypto adoption rates in the world. Retail-driven, exchange-gated, and relationship-dependent. The right listing at the right moment with the right positioning can be transformative for a protocol's global trajectory.

🇯🇵
Japan
Institutional · Long horizon

Regulatory-first market with serious institutional appetite. Entry requires cultural precision and credible introductions. A market where the protocols that win arrived correctly and stayed consistent over time.

Principal
AP
Alexandre Philippine
Principal

Seoul-based. Eight years operating at the top of the Korean and Japanese crypto ecosystem. Every engagement handled personally.

2025 →
Kelpie Capital
Principal · Seoul-based investment and advisory for blockchain protocols entering Korea and Japan
2020–24
Samsung Electronics
DApp Business DD Partner · Galaxy Web3 Integration · One of two gatekeepers (with Blocko.io) for protocol integration onto Galaxy devices globally
2020–21
OECD
Mandated External Advisor · Bitcoin & Digital Assets Policy
2019–21
CoinTelegraph Korea
Director, Consulting Services
2018–19
Korea Blockchain Week
Head of Sponsorships & Partnerships
2019
Morgan Stanley
M&A Consultant · $3.2B healthcare acquisition
2016–20
Seoul National University
PhD Economics · Innovation & Technology · Bocconi Visiting Fellow
2025
Forbes Under 40
Leaders of the Digital Revolution · Latin America

SERIOUS
ABOUT
ASIA?

Tell us about your protocol, what you're trying to achieve in Korea or Japan, and your timeline. We'll give you an honest assessment within 48 hours.

What we look for
Real technology.We don't work with projects that are primarily promotional.
Korea/Japan intent. Asia entry must be a genuine strategic priority.
Sound token economics. We assess incentive structures before any engagement.
Serious founders. Our relationships go on the line. We only do that for people we trust.
Timing awareness.We'll tell you honestly if the moment is wrong rather than waste your one shot.