Samsung Boosting Venture-Capital Funding to $1.1 Billion
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Samsung Electronics Co., the world’s largest maker of mobile phones, said it was boosting venture-capital funding by $100 million to help create new businesses for its unit making memory chips and electronics parts.
The company unveiled the Catalyst Fund for early stage startups, as well as a strategy and innovation center in Menlo Park, California, at an event near the site on Sand Hill Road. The company and affiliates also run the $1 billion Samsung Ventures America Fund.