Jeff Herbst has departed from his role heading Nvidia GPU Ventures to join Samsung Ventures alumnus Jay Eum at the recently formed GFT Ventures.
Jeff Herbst (pictured at the GCVI Summit), head of Nvidia GPU Ventures, the corporate venturing unit of US-based chipmaker Nvidia, has left to join venture capitalist Jay Eum in setting up a new firm, GFT Ventures.
GFT, which stands for global frontier technology – such as artificial intelligence, data science, blockchain and robotics – has completed a first close of undisclosed size for a debut fund with a final target of $100m.
Limited partners for the fund include chipmaker SK Hynix, internet group Naver, asset manager Mirae Asset Global Investments and US-based angel investors, in particular reflecting Eum’s connections as a former head of corporate venture capital unit Samsung Ventures and co-founder of VC firm TransLink Capital.
Eum and Herbst co-invested in audio technology developer SoundHound, which raised more than $300m and is valued above $2bn, but have delivered 29% gross annual (called internal) rates of return from their…
