ASUS turns venture capitalist with US$50 million fund to bring Silicon Valley startups to Asia
ASUS has launched a US$50 million venture capital fund, an interesting turn that sees the Taiwanese hardware company focus on investments to bring Silicon Valley startups to Asia.
The fund is being managed in partnership with Fenox Venture Capital, with an eye on investments in countries such as Japan, Taiwan, and China, where Fenox already has investments.
ASUS is especially interested in artificial intelligence, augmented and virtual reality, big data, and the Internet of Things, according to Anis Uzzaman, general partner and CEO of Fenox Venture Capital.
These are all areas that can benefit from a closer relationship with ASUS, which is already an established player in the systems and components market, so the company is likely hoping for new and fresh ideas to give itself an edge.
Uzzaman also said that while ASUS has invested in companies before, this is the beginning of a more aggressive effort in the venture capital game.
ASUS reportedly plans to invest mostly in firms that have already secured their Series A funding and are distributing products in the US or Europe, but need help moving into Asia. Nevertheless, it will look out for seed-stage companies, including graduates of prominent accelerator programs such as Y Combinator, Stanford StartX, or Techstars.
It’s not just funding that’s being offered however, and ASUS may also chip in as a distribution partner and help startups localize their products for individual markets.
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