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'Genius Girl' goes from inspiring a Korean TV show character to raising a $100 million AI fund | TechCrunch

Dec 20, 2024 - techcrunch.com
Songyee Yoon, once the inspiration for a TV character due to her unique presence on a South Korean campus, has become a prominent figure in the tech industry. After earning a PhD from MIT, she rose to the position of president at NCSoft, a South Korean video game developer. Yoon is now launching Principle Venture Partners (PVP), a $100 million fund aimed at supporting AI startups. The fund plans to make early-stage investments ranging from $100,000 to several million dollars and has already backed six startups, including Liquid AI. PVP boasts a team of notable AI academics, including Daniela Rus, Dawn Song, and Jeremy Nixon, which Yoon believes provides a competitive edge in securing deals.

Yoon and her team at PVP are focused on investing in AI-native companies, which are built with AI at their core. They are not concerned about missing out on foundational companies like OpenAI, as they believe the future lies in new AI-driven unicorns. Yoon is particularly interested in the potential of AI to revolutionize sectors like insurance and is also mindful of AI's role in cultural colonialism, advocating for increased representation and diverse perspectives in the industry. The fund, while not explicitly labeled as female-focused, attracts many female founders who appreciate the understanding and support offered by its three female partners.

Key takeaways:

  • Songyee Yoon, inspired a character in the Korean TV show KAIST, has launched Principle Venture Partners (PVP), a $100 million fund to support AI startups.
  • PVP's team includes notable AI academics like Daniela Rus, Dawn Song, and Jeremy Nixon, providing a diverse set of advisors for startups.
  • The fund aims to invest in AI-native companies across various sectors, with a particular interest in transforming the insurance industry.
  • Yoon is concerned about AI's potential to exacerbate cultural colonialism and emphasizes the importance of diverse representation in the AI industry.
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