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Samsung to invest in European startups

Samsung Next, Samsung's venture capital arm, opened an office in Berlin to invest in Europe's tech startups in the field of virtual reality, the internet of things, etc.

For this purpose the South Korean company will use a $150 million venture capital fund that it raised in January.

Speaking about company's expansion into Europe, managing director Felix Petersen, noted that the mix of high tech talent and cultural variety makes European market very attractive place to grow revolutionary startups.

In 2015, Samsung paid around $250 million for startup LoopPay, which later was renamed in Samsung Pay.



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