Naver launches $43 million fund to seek content for Snow

SEOUL, South Korea (AP) — South Korean internet giant Naver Corp. has launched a $43 million fund with Japan's Softbank to invest in content and technology startups.

The investment fund will scout for new technology and talent for Naver's mobile services with global ambitions, the company said Monday.

The fund will support creators of videos, concerts, games and online cartoons using virtual reality or other technologies, said Lee Joonpyo, a director at Softbank Ventures Korea.