Toyota-backed Woven Capital has hired GCV Rising Star Will Fung, formerly investment principal at Samsung Catalyst Fund, for a similar role.
Will Fung is joining Woven Capital, a corporate venture fund of Woven Planet, a holdings company and subsidiary of the Japanese automotive manufacturer conglomerate, Toyota Motor Corporation.
As an investment principal at Woven Capital, Fung will oversee the investment strategies in various mobility, consumer goods and data-based startups.
The hiring comes after Fung’s seven-year stint at Samsung Catalyst Fund, wholly owned by South Korea-headquartered diversified conglomerate Samsung. He had begun as an intern in 2015 before moving up to investment principal the year after. Global Corporate venturing named Fung a GCV Rising Star earlier this year.
Formed in 2020, Woven Capital is an $800m global growth-stage vehicle and its portfolio companies include robotics technology developer Nuro, internet-of-things automation business Ridecell and Whill, which provides short-distance mobility products.
Additionally, Woven Planet acquired multiple companies such as the HD mapping startup Carmera for an undisclosed amount, and Lyft’s autonomous vehicle unit, Level 5, for $550m.
“I’m incredibly excited to be joining Woven Capital as an investment principal,” said Fung in a LinkedIn post.
“A big thank you to my former colleagues at Samsung Catalyst Fund. Over the last seven years, I’ve grown both personally and professionally. This couldn’t have been possible without the incredible mentors, friends, and colleagues who supported me along the way.”
