Taiwan-based original design manufacturer Wistron Corporation yesterday established a $20m corporate venturing fund with the support of US-based VC firm Fenox Venture Capital.
Wistron will use the vehicle, the name of which has not yet been revealed, to invest in internet of things, robotics, virtual and augmented reality startups, as well as other companies using a combination of hardware and software to improve manufacturing.
Wistron will aim to assist portfolio businesses in better utilising manufacturing capabilities in Asia, including the corporate’s own offering.
The partnership with Fenox will enable Wistron to access the firm’s pipeline and portfolio businesses.
Simon Lin, chairman of Wistron, said: “Finding the right global partner was a key step in our search for cutting-edge technologies that would enhance the experience of our customers.
“Fenox VC is an excellent partner to assist Wistron in our global outreach due to their innate understanding of the Asian business culture and unbridled access to North America, Europe, and broader Asian market.”