Canapi Inc., a wholly owned subsidiary of Live Oak Banchares, has announced the appointment of Timur Davis, as principal for the fintech-focused company.

Davis took this newly created role on April 23, according to a news release from the company. He will develop and execute investment and incubation plans and strategies that support Canapi’s mission, roadmap and vision to bring innovation, efficiency and excellence to the forefront of the banking industry, officials said in the release.

“Timur is an experienced venture capitalist with global experience who will help us strategically cultivate like-minded companies for Canapi to invest in and partner with,” Canapi Managing Director Neil Underwood said in the release. “With his support, we aim to develop an ecosystem of cutting-edge companies that will transform the way people interact with the financial services industry.”

Davis previously served as senior investment manager for Samsung Ventures in Seoul, South Korea, where he invested in global tech start-ups in emerging areas such as AI, big data, cloud, energy, digital healthcare and ecommerce.

His decade of experience also includes serving as a consultant at The Boston Consulting Group, where he focused on strategic projects in technology, finance, pharmaceutical and media industries, and fellow at Columbia Technology Ventures in New York, where he analyzed the commercial potential of technologies developed by Columbia University faculty and researchers.

Davis received a Ph.D. in applied physics and applied mathematics from Columbia University in New York.