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2013-02-05

Samsung launches $100m fund for start-ups

The company, a household name in televisions and mobile devices, is expanding its presence in the region with a new $100 million venture fund that will invest in early-stage start-ups, particularly those in remote computing, cyber-security, mobility and m

The company, a household name in televisions and mobile devices, is expanding its presence in the region with a new $100 million venture fund that will invest in early-stage start-ups, particularly those in remote computing, cyber-security, mobility and mobile privacy.

For the South Korean corporation the idea to provide funding and partnership opportunities to start-ups that will ultimately drive growth for its vast electronics components business.

The fund, called Samsung Catalyst Fund, will work alongside the existing and bigger $1 billion Samsung Venture Fund, which already helps mold and nurture start-ups.

Samsung also intends to focus on ideas related to components and sub-systems, such as batteries, for investment.

Young Sohn, President and Chief Strategy Officer, Samsung’s device solutions unit, will be leading the initiative.

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