Kakao Ventures, an early-stage venture capital firm, announced Thursday that Jang Dong-wook, a director overseeing information and communications technology (ICT) service investments, has been promoted to senior vice president and appointed as service partner.
Jang joined Kakao Ventures in 2014 and has risen through the ranks from team leader to principal and director, leading early-stage investments in the consumer and service sectors. He is recognized as a specialist in consumer and service investing, having focused on identifying startups that solve everyday consumer problems and companies that boost productivity for businesses and small merchants.
In 2016, Jang became the first institutional investor in Karrot, a secondhand trading platform, and served on its board as a non-executive director for several years. The investment recorded a 182-times multiple on a partial exit basis. Both Karrot and Korea Credit Data, another portfolio company, have achieved unicorn status. Socialbean, which Jang first backed in 2018, is preparing for an initial public offering by the end of this year. A number of other lifestyle-focused platforms in his portfolio — including Rapo Labs, TimeTree, Buffett Seoul, Macaron Factory, Travel Wallet and Life Research Lab — continue to grow steadily.
Jang graduated from University College London with a degree in economics and worked as a research analyst covering internet and gaming at Hana Financial Investment before joining Kakao Ventures. He is regarded as a leader who combines more than a decade of hands-on investment experience with deep respect for founders and the discipline to independently research evolving markets and share insights across the organization.
With his appointment, Jang will lead Kakao Ventures' service investment division and spearhead efforts to discover and invest in innovative services for the AI-native era. Having witnessed and navigated structural industry shifts from the early days of mobile apps through the platform boom to the current AI transition, he is expected to successfully write the next chapter for Kakao Ventures.
"I see this promotion and partner appointment not as a personal achievement but as being entrusted with greater responsibility," Jang said. "I will never forget that investing is ultimately about recognizing the potential of people and teams before the numbers. In the AI-native era, I aim to be the investor who is first to discover and longest to support teams building services that earn lasting loyalty and companies that stand the test of time."
Kakao Ventures is an early-stage venture capital firm that has invested in 290 companies including Karrot, Dunamu, Rebellions, Korea Credit Data and Travel Wallet. It currently manages nine funds totaling 410 billion won ($302 million).