Acer, the China-based computer manufacturer, announced yesterday it has launched a new venture capital fund.
The fund, which will manage more than $33.5m, will target companies that can strengthen Acer’s technological development and deliver a good financial return.
Acer founder, Stan Shih, said: “Acer has failed to make sufficient long-term investments over the past 10 years, leading to the difficulties we are facing today,”
“The fund is making assessments of appropriate investment targets that can generate good financial returns in the future, and final decisions are expected by the end of this year,” he said.
Acer has hired a new executive from outside the company as investment director of the fund. They will take up the position from 1 September.