Keunhang Heo, senior investment manager at Hyundai Cradle, is one of our top 50 Emerging Leaders in corporate venturing for 2025.
Keunhang Heo began his career at Hyundai Motor Company in 2012 in R&D, focusing on new technologies for the future of automobiles. His work primarily centred around software development, including prototyping for Android Auto and Apple coupling. He also contributed to the development of Hyundai’s proprietary Connected Car Operating System, for which he designed the media framework architecture.
After working in software development for five years, he realised the “growing importance of external technological systems and the potential for greater impact through strategy collaboration”. In 2018, he transitioned to the CVC team, where his R&D background was highly valued. In 2022, he moved to Silicon Valley to lead North American investment at Hyundai Cradle.
One of the most rewarding aspects of his role is showcasing how a large corporation such as Hyundai uses CVC not for immediate financial gains, but as a strategy tool for future growth and innovation. Heo acts as a ‘bridge’, introducing promising technology to the relevant departments within Hyundai.
“Disruptive innovations are often the source of transformative change and future market leadership”
One of the biggest challenges is identifying disruptive innovations that are not yet on the radar of Hyundai’s existing business units.
“Because there is no immediate internal champion or designated budget, securing investment or even initiating a proof-of-concept project can be significantly more difficult,” he says.
The paradox, Heo says, is that “these disruptive innovations are often the source of transformative change and future market leadership.”
While Hyundai currently invests from the balance sheet, Heo is anticipating the launch of two new funds. Hyundai Motors is set to launch a $400m fund early this year, focusing on mobility, robotics and smart cities. Hyundai Cradle is also working on establishing a dedicated fund, focused on identifying innovative early-stage companies.
See the full list of Emerging Leaders 2025 here.
