Samsung NEXT (formerly Samsung Global Innovation Center) launched a $150m venture capital fund.
Samsung NEXT Fund aims to increase Samsung’s global support to early stage startups pursuing advanced software and services innovation via funding, resources and deep-domain expertise.
Led by David Eun, President and Founder, and and Brendon Kim, VP and Managing Director, Samsung NEXT Fund targets pre-Seed to Series B investments with a focus on:
– virtual reality,
– artificial intelligence,
– IoT and
– other new frontier technologies.
Companies that have received capital from the fund so far include:
– Converge Industries,
– Entry Point VR,
– Otto Radio,
– SafeDK, and
Samsung NEXT, which currently has offices in Tel Aviv, Mountain View, New York, San Francisco and Korea, will open additional locations in 2017.