We were delighted to speak with our recent investor, entrepreneur and venturer Young Sohn. His journey spans across renowned companies such as Samsung, Intel, etc., where he honed his skills in various facets of the industry. Currently, as Founding Managing Partner of the Catalyst fund backed by a $550 million early-stage venture capital fund dedicated to tech investments, Young Sohn focuses on investing in startups dealing with big data and artificial intelligence.
In this interview, we will explore the lessons and insights our guest has gathered throughout his career. From his time at Samsung, ex. CEP of two thriving Silicon Valley public companies and now as tech startup investor, our guest has a wealth of wisdom to share, particularly with early-stage startups eager to make their mark in the tech world.
Q1: You've had a diverse career, holding leadership positions in various companies. Notably, you are a former Corporate President of Samsung Electronics. What prompted you to leave the company and make a move toward funding young startups?
A: When the pandemic hit, I thought it was a good opportunity to change things in life. So, I started to look for new exciting challenges and that’s how I ended up focusing on startups that can make nonlinear impact. This focus enabled me to assist these startups in reaching the level of global scale-ups
Q2: You have a lot of experience in funding startups in Germany and Switzerland now. How do you describe the current startup scene in Europe?
A: Over the past decade, the tech startup industry appeared incredibly promising and thriving. There was a lot of cash coming in, and young entrepreneurs were confident this trend would persist for years. However, as someone who has been funding startups in Silicon Valley for nearly 40 years, I've witnessed numerous ups and downs. While many young European colleagues have only started to experience the negative implications of the economic downfall, my experience has taught me to navigate these challenges. This means that they need to adapt and learn how to use cash when it becomes scarce and adapt their strategy to ultimately thrive.
Q3: As an investor, what tech company profiles attract you the most and what potential do you see in them?
A: Big data and artificial intelligence. Even though they generate considerable hype today, this trend is reminiscent of previous waves of innovation, such as the advent of personal computers, the Internet, mobile technology, and cloud computing. The fusion of big data and AI has the potential to fundamentally transform both our personal and professional lives. Particularly, I see significant promise in Generative AI and the companies actively creating practical and adaptable applications for it.
Q4: Is this why you chose to invest in Unique? What aspects of our company's strategy, products, or services do you find particularly compelling?
Yes, I chose Unique because I believe in its founders, Manuel Grenacher and Andreas Hauri, and the entire team behind the solution. They are very focused on solving customer challenges with new AI technologies. They’ve made tremendous progress in the span of just two years, especially after securing contracts with top Swiss banks like LGT and Pictet. This fact alone shows that they can tackle any data security and compliance issues for big enterprises and provide a number of high-profile use cases that have direct impact on productivity. I believe that vertical AI leaders will win. Unique FinanceGPT delivers on its promises and truly helps the financial sector to improve its internal processes and streamline the workflow.
Q5: Can you share what future you foresee for Unique and what strategies you have in place?
A: As an advisor, I work closely with Manuel and the team to discuss long-term strategies. Unique leaders have already shown great initial engagements across European countries and I want to help them to scale globally. I’m ready to put in my experience and my expertise to help Unique develop and grow. In the future, with enough dedication and work, I hope that Unique achieves an IPO. So far, my partner and I have involved with 136 IPOs.