South Korea’s NAVER Corp. has announced the launch of NAVER Ventures, a new global investment arm based in Silicon Valley aimed at supporting early-stage startups in North America and accelerating its global innovation strategy.
The initiative builds on NAVER’s prior venture experience through its D2 Startup Factory (D2SF), which has backed numerous technology startups and helped them scale internationally.
The formation of NAVER Ventures also follows NAVER’s 2023 acquisition of U.S.-based social commerce platform Poshmark, underscoring its ambition to expand beyond Asia.
NAVER Ventures will focus on strategic investments in AI, digital content, and next-generation technologies. Its first confirmed investment is in TwelveLabs, a video AI startup known for its advanced machine learning capabilities in video understanding and search.
The investment aligns with NAVER’s broader objective to sharpen its competitive edge in artificial intelligence.
NAVER Founder and Chairman Lee Hae-jin, CEO Choi Soo-yeon, and Kim Namsun, President of Investments, recently visited Silicon Valley to meet with investors, engineers, and entrepreneurs.
The company hosted a networking event titled “Venturing NAVER’s Next Chapter” on June 5 to outline its vision for global collaboration and innovation.
The new venture unit, to be overseen by Kim Namsun, is expected to complete its setup by the end of June. NAVER Ventures will deploy capital and strategic guidance to support high-potential startups aiming to scale globally.
NAVER, Korea’s largest internet company, reported sales of KRW 10.74 trillion (USD 7.5 billion) in 2024 and ranks among the country’s top 15 companies by market capitalization. Its global portfolio includes LINE, Webtoon, SNOW, and ZEPETO, with operations across North America, Japan, and Europe.
Business News Asia