Samsung launches $150m global VC fund

Samsung Next, formerly branded as Samsung Global Innovation Center, will offer funding, resources and deep domain expertise to start-ups pursuing growth in advanced software and services-related sectors. According to a statement, the fund will target companies at the pre-seed to Series B stages, with an emphasis on virtual reality, artificial intelligence, internet-of-things and other frontier technologies.

Founded in 2012, Samsung Next operates out of offices in Silicon Valley, New York, Korea and Israel. It aims to leverage this footprint to offer regionally tailored support to entrepreneurs and expects to open additional offices in 2017.

"We're very passionate about partnering with start-ups and developing meaningful relationships in start-up ecosystems around the world," said Emily Becher, a managing director at Samsung Next who is overseeing its international expansion. "We leverage local experts to fuel traction and drive scale for start-ups right where they are."

Companies that have received capital from the fund so far include Converge Industries, Dashbot, Entry Point VR, Filament, Intezer, LiquidSky, Otto Radio, 2Sens, SafeDK and Virtru. Funding allocations have not been disclosed.

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