Intellectual Ventures requested Samsung for participating in its new fund
According to MK news in S. Korea, Intellectual Ventures (IV) founder Nathan Myhrvold
visited Samsung Electronics vice chairman Jay. Y Lee, son of Samsung Electronics
chairman on May 27. The main purpose of IV’s visiting was to seek an investment
for its new fund from Samsung.
The new fund is IV’s third fund aiming $3 billion investment from major companies globally. Samsung’s top executives,
however, were reluctant to participate in IV’s new fund. The reason was that sharing
of profit from IV’s trolling business is not compatible with Samsung’s business
philosophy even if Samsung entered into a long-term license arrangement with IV
in 2010 for allowing Samsung’s access to IV’ patent portfolios. IV claimed that
it had generated more than $3 billion revenue from the previous funds.