NAVER Ventures to Invest in North American Startups

NAVER Corporation has announced the establishment of NAVER Ventures, a new global venture investment initiative aimed at expanding its footprint in Silicon Valley. Announced in a press release, the initiative will focus on investing in promising startups across North America, with its first investment confirmed in TwelveLabs, a video AI startup.

The launch of NAVER Ventures marks a significant step in NAVER's strategy to foster innovation and collaborate with global startups. The initiative will be overseen by Kim Namsun, President of Investments, and is expected to complete its establishment process later this month.

NAVER's leadership, including Founder Lee Hae-jin and CEO Choi Soo-yeon, recently engaged with the local startup ecosystem in Silicon Valley, hosting a networking event titled 'Venturing NAVER's Next Chapter' to discuss their vision for supporting technological innovation. This move builds on NAVER's experience with its NAVER D2SF initiative, which has a strong track record of investing in early-stage technology startups.