Applied Materials Launches Venture Investment Initiative in China
Today we're announcing a new initiative to identify and invest in early-stage, privately-held Chinese companies with promising technologies that can advance or complement the company’s core expertise, particularly in the areas of cleantech, display and semiconductor manufacturing.
Applied Materials, through its venture capital arm Applied Ventures, LLC, plans to identify companies with breakthrough, disruptive or advanced technologies that could benefit from the company’s involvement and lead to new growth opportunities in China. Applied Ventures previously committed a total of $10 million as a limited partner in two Chinese funds, DFJ Dragonfund L.P. and China Environment Fund IV, L.P., to further its investment efforts in China.
This new initiative to invest in high-growth, early-stage companies in China demonstrates Applied Materials’ continued leadership and commitment to accelerating technology and manufacturing capabilities worldwide. Given China’s focus on growth in renewable energy and high-value technologies, we believe it is an ideal region to find opportunities for funding promising new companies that can help advance the near and long-term success of our business.
The new initiative will be headed by Mr. Tony Chao, who has been with Applied Ventures since 2007. Mr. Chao has extensive experience in exploring investment opportunities in solid state lighting, energy storage and other cleantech areas and will be based in Shanghai. Mr. Chao serves as Applied Ventures’ board observer in connection with the company’s investments in Tera-Barrier Films Pte. Ltd., Enki Technologies, Inc., and Semprius Inc. Prior to coming to Applied Materials, Mr. Chao was affiliated with Mustang Ventures based in Shanghai, China.