Investment

Patrick Chang leads Samsung Next’s investment in Theta Labs

  • Chang has greater than 15 years of expertise in terms of investing in enterprise software program.
  • Earlier than Samsung Subsequent, Chang labored for different funding corporations, together with Bain Capital Ventures.
  • Chang was the driving drive behind Samsung’s main crypto and blockchain investments.

Patrick Chang, the director at Samsung Subsequent Ventures, is now heading the group’s funding in Theta Labs. Theta Community unveiled this information by way of a weblog publish on January 8, noting that Chang is an early-stage investor that primarily focuses on seed to Sequence B Enterprise funding. Reportedly, he’s well-versed with funding issues, and he specializes within the Blockchain, Edge Computing, and Open Supply.

In keeping with the blog post, Chang began investing in Bitcoin (BTC) even earlier than becoming a member of Samsung Subsequent. He additionally believes that blockchain technology holds a whole lot of promise, which explains his being a driving drive behind Samsung’s growing adoption of the blockchain. Allegedly, Chang hosted spherical desk conferences and was a part of the workforce that led to the event of the Samsung Pockets. On high of this, he additionally performed a big function in Samsung’s main investments within the blockchain and crypto industries. These embrace shopping for into Dapper Labs, the agency behind creating Cryptokitties, Forte, Alchemy, Filament, and Theta Labs.


Are you searching for fast-news, hot-tips and market evaluation?

Sign-up for the Invezz newsletter, today.

Reportedly, Chang labored at Basis Capital earlier than becoming a member of Samsung Subsequent. At Basis Capital, he primarily targeting SaaS and enterprise software program. Aside from this, he additionally provided his companies to Bain Capital Ventures and Investor Development Capital, amongst different organizations. Via these alternatives, Chang manages to garner 15 years of expertise concerning investing in startups within the enterprise software program house.

A Theta fan

Commenting on his function to steer Samsung Subsequent’s funding in Theta Community, Chang stated that he has witnessed a large development of Theta as he has been the follower of the Theta workforce since 2016 when Samsung Subsequent invested in Silver.television.

He added that on the time, he was dug deep into Samsung’s blockchain tasks and that it had been nice providing the Theta Community assist by way of the tech big’s validator actions in 2020.

He additional cited that,

“I’m thrilled to be much more concerned with Theta’s hyper-growth plans in 2021 and can attempt to be their BD workforce to Samsung.”

Extra improvement on Theta

This information comes after Theta Community rolled out the beta version of its video delivery platform in December final 12 months. Dubbed Theta Edgecast, the platform seeks to reward its customers and decrease the price of video content material supply by leveraging a distributed community. The Theta Edgecast platform permits customers to seamlessly document movies earlier than transcoding, caching, and relaying the movies to viewers globally. Per Theta Labs’ CEO Mitch Liu, this launch noticed Theta attain a key milestone, seeing because the community had been engaged on creating a decentralized video platform since 2017.

Source link

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

8 + eleven =

Back to top button