Samsung has announced a new fund that’ll invest in startups working on emerging technologies. The “NEXT Fund” consists of $150 million that’ll be directed towards AI, virtual reality, and “other new frontier technologies.” It’s already invested in 10 startups: Converge Industries, Dashbot, Entry Point VR, Filament, Intezer, LiquidSky, Otto Radio, 2Sens, SafeDK and Virtru.
The NEXT Fund will contribute between the pre-seed stage and Series B.
Samsung’s NEXT division, which is responsible for managing the fund, is opening a new office in Tel Aviv. It already had offices in Mountain View, New York, San Francisco, and Korea.