K Cube Ventures announced on the 15th that stockholders decided in a general meeting to change the company name to “Kakao Ventures” and appoint Partner Shina Chung as new co-CEO.
Established in 2012, Kakao Ventures was incorporated in March 2015 as Kakao affiliate. The name change was made to strengthen the brand consistency as Kakao community.
Kakao Ventures appointed Partner Shina Chung as new co-CEO. As a result of the appointment, the company will be lead by two co-CEOs, Jung Shina and SW Yu.
New co-CEO Shina Chung worked as a consultant at the Boston Consulting Group, then a Manager of Strategy and Business Development at eBay Asia Pacific, and a General Manager at NHN Corporation before she joined Kakao Ventures as partner.
Chung said “Kakao Ventures will be a venture capital that continues to look for a better future and fosters innovation, serving as an engine of growth for startup companies.” She added, “I will keep serving as a reliable business partner for those entrepreneurs who have passion and ability to solve world problems.”
Her counterpart, co-CEO SW Yu of Kakao Ventures, said “I will actively support investment activities and contribute to friendly venture environment so as not to fail the great responsibility from the name change.
Kakao Ventures has set up 6 investment funds amounting to 204.6 billion KRW in total. Its portfolio includes more than 120 ICT and software startup companies, such as Frograms, Dunamu, Neptune, Lunit, and Korea Credit Data.