/// Samsung Aims to Boost U.S. Presence with $1.1 Billion in Venture Funds
Samsung Electronics said on Monday that it is launching two venture funds worth a total of $1.1 billion as well as a strategy and innovation center on Menlo Park’s Sand Hill Road. A $100 millon Samsung Catalyst Fund will focus on early-stage companies while a $1 billion Samsung Ventures America Fund will target companies of all sizes. In addition to the Menlo Park office, the Samsung Strategy and Innovation Center will also have offices in Korea and Israel and be led by Samsung Electronics’ newly installed president and chief strategy officer Young Sohn. Sohn is holding a press conference in Menlo Park momentarily to discuss things. 1:08 pm : Sohn says he hopes to demystify Samsung a bit, even though the company is already a $188 billion company and the ninth biggest global brand. All this from a company that started out making black and white TVs. Sohn goes through all the different stuff Samsung makes today, from medical equipment to TVs and phones to memory and chips, cameras and other “white goods” appliances.
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Samsung Aims to Boost U.S. Presence with $1.1 Billion in Venture Funds