Taiwanese original design manufacturer Wistron Corporation has launched a US$20 million venture capital fund with Silicon Valley-based Fenox Venture Capital to invest in top technology companies around the world.
The new venture vehicle is set up for Wistron to gain access to emerging technology start-ups, and collaborate with them to better utilize manufacturing capabilities in Asia – including Wistron itself – down the road.
"Finding the right global partner was a key step in our search for cutting-edge technologies that would enhance the experience of our customers," said Simon Lin, chairman of Wistron Corporation, in a statement. "Fenox is an excellent partner to assist Wistron in our global outreach…"
The vehicle will help start-ups in the areas of Internet of Things (IoT), robotics, virtual and augmented reality, in addition to other appropriate fields that require hardware-software collaboration with reliable manufacturing.
"We have been working with leading software and technology startups in Silicon Valley and the rest of the world, therefore, the partnership with Wistron ties in well with our expertise," said Anis Uzzaman, general partner and CEO of Fenox.
Most of the top start-ups in Silicon Valley and around the world are looking for a reliable and experienced design, manufacturing, and post-sales partner in Asia.
Wistron can address those needs and help start-ups expand their horizon in Asia through its vast network.
Fenox has invested in more than 85 companies globally, in the areas of IT, health IT, artificial intelligence, IoT, robotics, big data, VR/AR and FinTech.