Taiwan’s NDF commits $84m to VC funds

According to a statement, the government fund will commit $15 million to angel investor 500 Startups' third fund and NT$$400 million ($13 million) to local accelerator AppWorks' second fund.

The NDF will also invest $20 million in Translink Capital Partners III and $36 million in a joint venture fund run by the Battelle Memorial Institute's investment unit 360ip and Taiwan's Industrial Technology Investment Corporation.

500 Startups' is looking to raise $50 million for its new fund, which focuses on e-commerce, cloud computing and other internet-of-things related industries. Part of the capital will be invested in Taiwanese start-ups.

Domestic investor AppWorks is seeking NT$1 billion while Translink Capital Partners III, which is co-managed by Silicon Valley-based Translink Capital and Taiwan's UMC, wants to raise $150 million. The NDF expects to help local start-ups establish business partnerships with companies from the US, Japan, South Korea and Greater China as a result of its investment in the fund.

The NDF, which manages about $10 billion, is trying to reboot the start-up ecosystem through introducing measures intended to reduce the bureaucratic and economic burden on start-ups.

In October, the government-backed fund initiated a new program to attract international VCs to invest in Taiwanese start-ups and also help local companies expand into overseas markets. Any foreign VC firm with a presence in Taiwan could qualify for a grant equivalent to 40% of its total fund size.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Save this article  
• Send to  

• Topics
• Greater China
• Venture
• Technology
• LPs
• Fundraising
• Taiwan (China)
• Venture
• TMT
• Technology
• Translink Capital
• Growth capital
• LPs
• 500 Startups
• Fundraising