Naver D2SF Promises Future Innovation Beyond a Decade

Naver D2SF: Drawing a New Map of Korea's Tech Ecosystem Over 10 Years Over the past 10 years, Naver D2SF has invested in 115 tech startups, pioneering uncharted territory in the Korean tech ecosystem. Center Director Yang Sang-hwan defines D2SF as a place that invests in "market pioneers who are the first to tread on untouched ground." Based on Naver's experience, which began as a startup, a culture of quickly understanding and supporting new technologies and industrial changes is D2SF's core driving force. Beyond simple profit generation, they focused on the potential for startups and Naver to grow together. While most investors demanded "performance" and "evidence," D2SF saw "technology" and "potential." The fact that 99% of its invested startups were at the seed or Series A stage clearly demonstrates this. In particular, they focused on discovering companies that made "first attempts" in various technology and industry sectors, such as artificial intelligence (AI), virtual technology, and robotics. Thanks to an environment free from financial pressure from Naver, D2SF could fully concentrate on the potential of early-stage tech startups, which inherently carry uncertainty. The results are astonishing. The current enterprise value of startups invested by D2SF amounts to 5.2 trillion won, an increase of approximately fourfold compared to 2021. Even more impressive is the high survival rate of 96%. This is a miraculous achievement, far exceeding the average survival rate of 70% for domestic startups. FuriosaAI, Korea's first AI semiconductor company; Clorobots, the first robotics software company to be listed; and Crowdworx, an AI data platform, are some of the representative pioneering companies discovered and supported by D2SF. In the case of FuriosaAI, D2SF was convinced of its potential with just a five-page business plan and readily provided investment and technical cooperation. D2SF's core competitiveness lies in creating synergy with Naver. Out of the 115 invested companies, 64% are currently continuing business collaborations with Naver. Through diverse value-up programs such as office space and cloud infrastructure, they accelerated startup growth by nine times. Logistics startup Techtaka is closely collaborating with Naver Shopping to operate the "Naver Delivery" service, and motion capture solution Moovin is engaged in technical collaboration with Naver's streaming platform Chzzk. Choi Byeol, CEO of Moovin, emphasized the synergistic effect with Naver, stating, "D2SF's investment seemed to validate the risky challenges faced by early-stage founders." Now, it's D2SF's turn to draw a new map beyond Korea, towards "global." Center Director Yang emphasizes that startups need larger markets and capital amidst the waves of global capital and technological competition. To help promising Korean startups expand overseas and to serve as a bridge for international startups to enter the Korean ecosystem, D2SF expanded its scope of activity by opening D2SF US in the North American market last October. Already, 81% of its invested startups are accelerating their global expansion. Like Naver CEO Choi Soo-yeon's message, "Naver has a technology DNA, having started with technology and grown with technology," D2SF plays the role of a senior who has found their own path, lighting the way for those who follow. D2SF's 10-year journey is more than just investment achievements; it's a living history documenting the growth and potential of the Korean tech ecosystem, and the future they will unlock is far from over. The fact that hundreds of people are now filling the blank spaces on this map is D2SF's greatest achievement and brightest hope.