8/31/2023 0 Comments Flipboard briefing samsungSohn called it "the fastest $100 million decision ever." But approving a large US investment in less than 24 hours is rapid-fire even by its standards. Samsung has a reputation for moving fast. Meet the new faces of Samsung in Silicon Valley Sohn announced the plans for the Samsung Catalyst Fund at a press event the following month and since then has invested in 24 companies. Less than a day later, he won approval from Oh-Hyun Kwon, Samsung Electronics' CEO and vice chairman, for a new $100 million fund to invest in early-stage startups in the US. So the Samsung Electronics president and chief strategy officer put together a proposal during a long flight back to company headquarters in Korea in January 2013. Young Sohn knew if Samsung was going to make a splash in fast-paced Silicon Valley, he'd have to move quickly. The accelerator recently relocated to San Francisco. Samsung's push in Silicon Valley includes operating an accelerator, pictured here in its initial base in Palo Alto.
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