Samsung Next, an 'Investment Group' Undergoing Rebranding... "Supporting 80 Startups This Year"

Samsung Next (Photo by Samsung Electronics)

[Asia Economy Reporter Jeong Hyunjin] Samsung Next, Samsung Electronics' investment-specialized subsidiary, is transforming into an investment group focused on founders. The emphasis of investment is shifting from ideas or companies to founders with potential and vision, actively supporting them to pioneer new fields. Based on this, Samsung Next plans to invest in over 80 startups this year.

According to Forbes in the U.S. on the 9th, Anji Lee, Global Brand and Marketing Officer of Samsung Next, recently revealed in a conversation with Professor Kimberly Whisler of the Darden School at the University of Virginia that Samsung Next is rebranding from an 'Innovation Group' to an 'Investment Group.' Lee explained, "Innovation can take various forms such as product development and business model design, and its broad meaning can cause misunderstandings," adding that the brand is being reset as an investment group to resolve these issues.

This change appears to have started as a way to address problems Samsung Next has faced so far. Lee emphasized, "We have had to overcome the perception that many early-stage founders and startups, once funded, would face resistance from corporate investors and their ideas," and that this rebranding aims to clarify the goal of supporting founders. It implies reducing intervention after investment while providing funding and, if founders wish, expert assistance in areas necessary for business operations.

Anji Lee, Global Brand and Marketing Manager at Samsung Next (Photo by Samsung Next)

In particular, through this rebranding, Samsung Next is focusing on the founder's vision in its investments. David Lee, a well-known Silicon Valley investor who joined Samsung Next in February, considered it important to focus on individuals rather than ideas or companies and based the strategy on this perspective. For example, instead of directly examining the blockchain field, they discover founders pioneering that field and invest in their growth potential. Lee mentioned Samsung Next's investments this year in NFT game company Dapper Labs, NFT art trading company SuperRare, and NFT platform company Niftys, explaining, "We did not start investing by defining NFTs. Rather, we invested in founders who are currently defining this field."

Since David Lee's appointment in February, Samsung Next has invested in about 30 startups to date. Lee, who stated that they are in the early stages of rebranding, said, "Our ultimate goal is to give wings to the best and most ambitious founders," adding, "We plan to support an additional 50 startups by the end of this year." Samsung Next has set AI, blockchain, fintech (finance + technology), health tech, infrastructure, and media tech as its main investment sectors. Companies invested in this year include the UK remote medical service provider Huma, Korean blockchain platform DSRV Labs, and U.S. in-game application development support company Overwolf.

This content was produced with the assistance of AI translation services.