LG Nova steps in for some functions for electronics group's CVC unit.
LG Electronics (LGE), part of LG Group, the fourth largest chaebol in South Korea, has disbanded its corporate venture capital unit under Ray Schuder.
Schuder and Davorin Kuchan, who recently joined having previously run Texas Instruments’ corporate venture and innovation unit before setting up an advisory service and running a startup, are expected to leave LGE at the end of March.
Instead, LGE is understood to have tasked its new incubator, LG Nova, with some of the CVC unit’s functions.
One insider said:…
