Samsung-powered incubator fund is $150M strong: expanding

January 09, 2017 // By Julien Happich
Samsung NEXT (Formerly Samsung Global Innovation Center) is expanding its global support of early stage startups with a $150 million venture capital investment fund. More specifically, the fund is aimed at startups innovating in software and services, fields of innovation which Samsung wants to keep a close eye on.

“We see software and services becoming a core part of Samsung Electronics’ DNA, and startups are key to achieving this vision,” said David Eun, President and Founder of Samsung NEXT in a company statement.

The 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, Dashbot, Entry Point VR, Filament, Intezer, LiquidSky, Otto Radio, 2Sens, SafeDK and Virtru.

“Our investments bring the power of the Samsung platform to startups to accelerate their growth and ultimately their success,” said Brendon Kim, VP and Managing Director of Samsung NEXT Ventures. “The Samsung NEXT Fund expands our global reach and capabilities, while increasing Samsung’s access to more great ideas, products and talent.”

In September, Samsung NEXT launched its newest office in Tel Aviv (Samsung NEXT Tel Aviv). The new location is the fifth for the organization, which currently has teams in Mountain View, New York, San Francisco and Korea. Samsung NEXT will open additional locations in 2017.

At CES 2017 Eureka Park, Samsung NEXT will be showcasing startups from its investment portfolio, including Baobab Studios , BioBeats, Branch, Filament, LiquidSky, Lotik, Mapzen, Otto Radio and UniKey.

Visit Samsung NEXT at www.samsungnext.com