South Korea’s internet giant Naver-backed venture capital TBT said Tuesday it has named Startup Alliance Managing Director Lim Jung-wook as the new co-chief of the investment vehicle.

Lim will take office in March, when his term at Startup Alliance expires.

He is serving his seventh year as the head of the nonprofit organization, dedicated to startup ecosystem advocacy and community building. 

Formerly a career journalist, Lim served as the head of web portal operator Lycos and global business in Daum Communications, which later merged with Kakao.

“Lim’s vast experience and network in the Korean startup ecosystem will be able to generate vigor to our portfolio companies,” TBT CEO Lee Ram said in a statement.

TBT was founded in 2018. With a 110 billion won ($94.6 million) investment vehicle backed by Naver and Amorepacific Group. The venture capital house focuses on information technology startups in Korea. It is headed by Lee, former CEO of camera app operator Camp Mobile which merged with Naver in 2018.

By Son Ji-hyoung (consnow@heraldcorp.com)