中文網
Taipei
Sat, Jun 25, 2022
18:28
mostly clear
30°C
CONNECT WITH US

Taiwania stepping up investments in startups

Judy Lin, Taipei; Joseph Tsai, DIGITIMES

Taiwania Capital is set to complete the fifth round of fundraising in June, targeting startups at Pre-A as well as Series A and Series B rounds, according to company CEO David Weng.

The Taiwanese venture capital firm is looking to invest about NT$1.5 billion (US$52.68 million) in the fifth round, Weng said.

Since many of the firm's partners and shareholders are first-tier IT companies in Taiwan, Taiwania will also be promoting collaboration between the startups they invest in and their partners, Weng noted.

Taiwania is also looking to complete another fundraiser by the third quarter, accumulating an amount of NT$6 billion to mainly invest in emerging applications such as 5G and AI.

Taiwania general partner Cheng Wu pointed out that the company is currently working with institutions in Taiwan such as Industrial Technology Research Institute (ITRI) and Institute for Information Industry (III) to incubate R&D teams and talent for industries such as 5G and cyber security.

Taiwania so far has invested in 10 US-based and 10 Taiwan-based IT startups focusing on developing 5G, advanced manufacturing, enterprise software, automation and smart medical care technologies, according to a company managing partner Huang Lee.