Photograph by Scott Eells — Bloomberg via Getty Images
By Dan Primack
February 9, 2015

Nautilus Venture Partners has quietly launched as a new Silicon Valley venture capital firm, with a focus on helping startups partner with large tech corporations, Fortune has learned. The plan is to provide many of the same benefits of corporate VC groups, but without the long waits for investment decisions or possible conflicts of interest.

Not surprisingly, Nautilus Venture Partners is being led by a pair of ex-corporate investors: Connie Shen (who is stepping down as a Bay Area-based director of global investment with Foxconn Technology Group) and Brian Kang (former managing director with Samsung Ventures America, who stepped down in late 2013). A third partner also may be added at some point.

The firm is seeking upwards of $150 million for its debut fund, with several tech companies already said to have signed on as LPs. Unclear if that includes Foxconn and Samsung, although at least the former will in some way be affiliated with Nautilus.

It also is important to note that this firm has no relation to Nautilus Ventures, a seed-stage venture firm that has been run for years by Chris Michel.

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