Choi Soo-yeon led NAVER launches NAVER Ventures to Boost Startup Investments in Silicon Valley

NAVER Corporation’s CEO, Choi Soo-yeon made the announcement that the company plans to launch ‘NAVER Ventures’, a new global venture investment initiative in Silicon Valley. This step is a significant move in NAVER's strategy to grow its global footprint and boost innovation by investing in high-potential startups in North America.

The new venture intends to leverage NAVER's experience in supporting startups through its NAVER D2SF, which has previously supported various early-stage technology startups and helped them expand overseas. The South Korean internet conglomerate also boosted its global portfolio in 2023 by acquiring Poshmark, a premier U.S.-based social commerce platform.

In order to showcase its dedication to the Silicon Valley environment, NAVER Founder and Chairman Lee Hae-jin, CEO Choi Soo-yeon, and Kim Namsun, President of investments, travelled to the Bay area to interact face-to-face with business owners, engineers, and investors. The "Venturing NAVER's Next Chapter" networking event, where they shared NAVER's vision for encouraging technological innovation and supporting startups, was held at the Four Seasons Hotel on June 5.

NAVER Ventures has made public that its first investment will be in TwelveLabs, a video AI startup known for its innovative technology. The investment is in alignment with NAVER's keen focus on AI competitiveness and its vision to partner with global startups.

Kim Namsun is in charge of NAVER Ventures, a new investment program that is anticipated to finish its launch process later this month. It will provide capital and skills to help category-leading firms expand their operations at a faster rate.