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Samsung hires ex-Google exec to make VC investments

September 19, 2013: 2:27 PM ET

arbulu_luisLuis Arbulu joins Samsung.

FORTUNE -- Luis Arbulu, a former Google business development and investment executive, has joined Samsung Electronics (SSNLF), Fortune has learned. He will be a Menlo Park-based director in Samsung's new Open Innovation Center, whose strategy includes making small early-stage investments into promising hardware and software startups.

Samsung launched the Open Innovation Center earlier this year, as a separate effort from its existing Samsung Ventures platform. In addition to venture capital, OIC features a startup accelerator, an M&A effort and a partnering program for third-party startups that don't want to be financially linked with the Korean electronics giant.

It wouldn't be too surprising to find Arbulu's hands in a number of those pots, given his varied experiences with Google (GOOG). In addition to leading energy and efficiency investments for Google's philanthropic arm (Google.org), he also held various finance and business development positions.

Most recently, Arbulu was co-founder and managing director of Hattery, a seed-stage incubator and venture capital firm whose team was largely acqui-hired by Google.

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Dan Primack
Dan Primack
Senior Editor, Fortune

Dan Primack joined Fortune.com in September 2010 to cover deals and dealmakers, from Wall Street to Sand Hill Road. Previously, Dan was an editor-at-large with Thomson Reuters, where he launched both peHUB.com and the peHUB Wire email service. In a past journalistic life, Dan ran a community paper in Roxbury, Massachusetts. He currently lives just outside of Boston.

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