Taiwan’s MediaTek launches $300m corporate VC fund
MediaTek, a leading Taiwanese fabless chipmaker, has launched a $300 million venture fund that will invest in global start-ups.
The fund will be managed by the newly-established MediaTek Ventures, which will target semiconductor system and devices, internet infrastructure, services and internet-of-things. The objective of the corporate VC arm is to create an ecosystem around MediaTek's businesses in communication, computing, online media and analytics.
The fund will back start-ups in Greater China, Europe, Japan and North America. It will participate in all funding stages with a focus on value creation.
According to a statement, MediaTek hopes to work with young entrepreneurs to broaden the group's electronics value-chain and diversify product solutions. Founded in 1997, MediaTek produces processors that go into cheaply-designed smart phones and tablets that are popular in emerging markets such as India and China. It also provides system-on-chip solutions used in HDTV, DVD and Blu-ray players.
Last July MediaTek teamed up with KPCB to invest in a Series A+ round for Chinese wireless router manufacturer Hiwifi. The start-up said MediaTek's involvement will help it develop smart home products and wearable equipment.
In Taiwan, a number of traditional hardware players in the semiconductor and PC industries are seeking to make their businesses more internet-related by setting corporate VC arms. Last year, Acer established a NT$1 billion ($34 million) VC fund - Acer Venture Capital Fund - to invest in start-ups. Other listed technology firms also followed suit, including Asus.
More on Greater China
Latest News
Asian GPs slow implementation of ESG policies - survey
Asia-based private equity firms are assigning more dedicated resources to environment, social, and governance (ESG) programmes, but policy changes have slowed in the past 12 months, in part due to concerns raised internally and by LPs, according to a...
Singapore fintech start-up LXA gets $10m seed round
New Enterprise Associates (NEA) has led a USD 10m seed round for Singapore’s LXA, a financial technology start-up launched by a former Asia senior executive at The Blackstone Group.
India's InCred announces $60m round, claims unicorn status
Indian non-bank lender InCred Financial Services said it has received INR 5bn (USD 60m) at a valuation of at least USD 1bn from unnamed investors including “a global private equity fund.”
Insight leads $50m round for Australia's Roller
Insight Partners has led a USD 50m round for Australia’s Roller, a venue management software provider specializing in family fun parks.