Naver Corp. has launched its first dedicated Silicon Valley venture capital operation, marking the South Korean internet giant’s attempt to accelerate overseas expansion as it faces intensifying competition from global AI leaders.
Naver Ventures made its debut investment in TwelveLabs Inc., a video AI startup backed by Nvidia Corp., Samsung Electronics Co. and Intel Corp. The move represents a more aggressive approach than the company’s previous startup investment vehicle, D2 Startup Factory.
TwelveLabs has raised $107.1 million total funding and specializes in multimodal AI technology that enables users to search through videos for specific moments and generate summaries. Kim Nam-sun, Naver’s president of investments, will head the new venture arm, which is expected to complete its establishment process later this month.
The initiative underscores Naver’s struggle to maintain relevance as competitors like OpenAI and Google advance rapidly in artificial intelligence. Naver reported sales of KRW 10.74 trillion (approximately US$7.5 billion) in 2024. However, the company’s proprietary AI model, HyperCLOVA X, continues to lag behind global benchmarks despite significant investment.
Naver founder Lee Hae-jin, who returned as chairman earlier this year, indicated the venture arm would pursue investments beyond AI, including robotics and biotechnology. The company did not disclose the size of its TwelveLabs investment or the total capital allocated to Naver Ventures.
