Kakao Ventures Signs MOU With AI Video Production Platform 'Higgsfield'

First Korean VC to Sign MOU with Higgsfield
Supporting Content Production and Training for Early-Stage Startups

Kakao Ventures announced on Nov. 12 that it had signed a memorandum of understanding (MOU) with Higgsfield, a global AI video production platform, becoming the first venture capital firm in Korea to do so.

Headquartered in San Francisco, California, Higgsfield is a generative AI video and image production platform. It has more than 40 million users across 238 countries and territories, and about 390 of the U.S. Fortune 500 companies use its platform, expanding its presence in the global AI content production market. The platform enables users to create content such as advertising videos, product promotional images, and short-form social media videos using only text or images.

Under the agreement, Kakao Ventures will connect its portfolio companies with Higgsfield so they can use the platform to produce content. Higgsfield will provide training and technical support to help the companies develop their AI content production capabilities. The two companies plan to continue working together to expand the use of AI content among early-stage Korean startups.

"In an era when so much is changing rapidly due to AI, the role of an early-stage venture capital firm is to consider what resources are most essential for the sustained growth of early-stage startups," said Kim Jiwoong, a director at Kakao Ventures. "We will continue working with Higgsfield to help our portfolio companies use AI content production in their actual businesses and turn new technologies into opportunities for growth."

"Early-stage startups are often the first to adopt new technologies and test them in real business settings. We therefore determined that Kakao Ventures, which has worked closely with founding teams from the very early stages through post-investment, was the best partner for our first collaboration with Korea's startup ecosystem," said Kim Minseong, a director at Higgsfield. "This agreement will be a starting point for Higgsfield to grow alongside Korea's startup ecosystem. Together, we will strengthen the content capabilities of Korean startups and help them expand into global markets," he said.

Meanwhile, Kakao Ventures is strengthening its post-investment support system by establishing the Growth Team, a dedicated HR support organization. It provides resources and opportunities and supports external partnerships to help early-stage startups tackle challenges they face as they grow, including public relations and marketing, recruitment, and finance.

This content was produced with the assistance of AI translation services.