Applied Ventures, the corporate venturing subsidiary of semiconductor technology provider Applied Materials, is opening an office in Singapore to identify opportunities across the region, Tech in Asia reported yesterday.
The unit, which invests up to $50m per year, is particularly keen on collaborating with other investors in Asia. It will hold a Ventures Day on October 3 and 4 to meet potential partners and startups.
The Singapore office will focus on sectors such as genomics, robotics, energy storage, the internet of things and 3D printing. Applied Ventures’ portfolio is currently split between startups that relate to its parent’s core business and companies that are working on promising technologies.
Applied Ventures’ portfolio includes Tera-Barrier, a Singapore-based producer of flexible barrier films that are used in flexible electronics to protect them from damage through moisture and oxygen. It invested an undisclosed amount in the company in 2009.
Tony Chao, senior investment director and general manager of Applied Ventures, said: “We look for good return on investment, but more importantly, we are looking for strategic synergy.
“A startup needs money, but more than that it needs attention and management, operational help. We are not about writing the biggest check. We prefer to bring a lot of value-add to the table.”