On the 7th, The Ventures announced that it had recruited former director Seong-Hyeon Hwang, co-founder and first CTO of Banksalad, as a tech lead. This recruitment is considered an important step for The Ventures to strengthen its artificial intelligence (AI) technology capabilities and to begin its full-scale transition to an 'AI Driven VC'.
Tech Lead Hwang Seong-hyeon is the co-founder and first CTO of Banksalad, and has been leading the entire technology from the early days of the service, including system architecture design, data infrastructure construction, and development culture establishment. With a wide range of practical and leadership experience, he will lead technological innovation across the entire VC business, from investment review to post-management, including the introduction of AI reviewers and advanced portfolio company data management at The Ventures.
“We aim to contribute to The Ventures’ development into a VC that provides founders with a fast and clear investment experience based on technology, and investors with a reliable operating system,” said Hwang Tech Lead. “As our first task, we plan to introduce an AI reviewer and build a system that can respond to investment review requests within three days.”
The 'AI Reviewer Prototype' currently under development by The Ventures is a system that automates part of the first investment review, and immediately after introduction, it has the effect of reducing the time spent by one reviewer on investment review by about 20%. In addition, this system is designed to make more optimistic judgments than the investment review evaluation criteria of existing reviewers, reflecting The Ventures' 'preemptive discovery' investment philosophy. The 'AI Reviewer', which satisfies both fast response speed and cost efficiency, has a review cost per case of only about $0.50. The Ventures predicts that this system will reduce the investment review time of reviewers by more than 80% in the future.
Kim Chul-woo, CEO of The Ventures, said, “The addition of Tech Lead Hwang Seong-hyeon is an important execution process for The Ventures to evolve into an AI-based investment firm,” and “We will provide new experiences to both founders and investors through a technology-centered VC model.” He continued, “The introduction of AI review will go beyond simple internal efficiency and increase the accessibility and response speed of the investment review process, contributing to lowering the entry barrier for early-stage startup teams,” adding, “This system will serve as an important foundation for discovering and supporting more startup teams.”
- See more related articles
You must be logged in to post a comment.