SparkLabs launches $10m Taiwan fund, recruits NBA star

According to a filing, the firm's Taipei-based accelerator has received about $4.2 million for the vehicle to date. Taiwan's CTBC Venture Capital confirmed in July that it would provide as much as $1.6 million.

Lin, a US-born basketball player of Taiwanese descent has become involved because he "embodies what we look for in our entrepreneurs: persistence, dedication, and hard work," Edgar Chiu, a managing partner at SparkLabs Taipei, said in a statement.

Lin will join an existing advisory board in the country that includes Steve Chen, co-founder and CTO of YouTube, and Kevin Chou, co-founder and CEO of US media company Kabam, as well as Charles Huang and Kai Huang, co-founders of Guitar Hero.

SparkLabs entered Taiwan last year with a view to helping local start-ups expand globally. Focus areas include internet-of-things, virtual reality, augmented reality and mobile segments, as well as verticals related to financial and healthcare technologies.

There is significant precedent for celebrities, and NBA stars in particular, contributing to the VC industry in Asia. High profile examples include Yao Ming, who backed two Chinese funds in 2012, and Kobe Bryant, who launched his own firm in 2016 and backed Chinese education start-up VIPKID.

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• Topics
• Greater China
• Fundraising
• Venture
• Taiwan (China)
• SparkLabs Global
• seed
• Venture
• Appointments