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• To meet the needs of economic development
Venture capital firms facilitate the flow of private investments into knowledge-based- industries. This results in the establishment of an industry with the core of which being technology enterprises. This in turn improves the nation's industrial structure and strengthens the nation's competitiveness.
• To integrate capital, technology, talent and management through venture capital firms
Venture capital firms can integrate capital, technology, talent and management for the purpose of upgrading Taiwan technological developments. |
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• To provide seed funds for the establishment and development of technology enterprises.
• To assist in the management of invested technology enterprises in order to strengthen their developments.
• To assist in the listing of the invested technology enterprises' shares in order to access the capitals required for future growth.
• To introduce technologies into Taiwan through investment in overseas companies with advanced technology know-how.
• To facilitate the flow of capital from domestic private individuals and financial institutions into technology investment. |
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¡@¡@Venture capital industry is governed by ¡§The Scope and Guidelines for Venture Capital Investment Industry¡¨. This Law, effective since May 2001, was designed to respond to a call of liberalization in the governing of venture capital industry.
¡@¡@This Law replaced the "Regulation Governing Venture Capital Investment Enterprises". The Regulation specifies the requirements for the establishment of venture capital firm, the scopes of investment, and the means and manners of the investment management operation. Since its promulgation by the Ministry of Finance in 1983, the Regulation had been the bases as to how venture capital industry was governed.
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¡] as of Dec 31,2003 ¡^
• Number of venture capital firms ¡G 241
• Total Paid-in capital ¡G NT$171.71 billion
• Number of invested companies ¡G 8,719
• Amount of capital invested ¡G NT$161.94 billion
¡] Source ¡G Taiwan Venture Capital Association ¡^ |
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¡@¡@This plan responds to the campaign of ¡§ Challenge 2008 ¡¨, and is part of the means to achieve the objective of the campaign. ¡§ Challenge 2008 ¡¨ is to improve industry structure and strengthen national competitiveness through the assistance of venture capital infusion, in the amount of NT$100 billion.
¡@¡@The Development Fund, Executive Yuan plans to participate in NT$30 billion venture capital funds into this program. Private investors are to take part in this program for an amount of NT$70 billion.
¡@¡@The joined force of NT$100 billion is the core program of the above campaign, in augmenting investment in venture capital industry. |
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1. The Development Fund will invest no more than NT$600 million or 30% of the fund raised by a single venture capital firm. However, if the venture capital firm focuses their investments on incubation of cutting-edged technology venture businesses, the investment percentage may be raised up to 45% of the fund.
2. Any venture capital firm applying for investment by the Development Fund must commit to invest no less than 50% of their total capital in domestic industries. Firms with special investment focus (e.g. investments focus on the biotech industry); however, can lower the above percentage to 20%. |
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• Article 1 Goal and
Applicable Scope
Section 1 In order to strengthen and aid in the development
of the domestic venture capital industry, foster the continued
growth of knowledge economy industries, enhance the nation's
competitive ability, and accelerate domestic economic development,
the Board of Directors of the Executive Yuan Development
Fund (hereafter referred to as "the Fund") has
entrusted the International Commercial Bank of China ("ICBC")
with fiduciary rights to manage the Fund in accordance with
the above.
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• The venture capital firm needs to have already raised or acquired commitments up to 20% of its estimated fund size when applying for investment by the Development Fund. Upon approval of investment by the Development Fund, the venture capital firm then has to complete the fund raising within 6 months.
• Total investment owned by Development Fund and any other governmental bodies combined may not exceed 49% of the fund size of the venture capital firm.
• Contact : International Commercial Bank of China, Trust Department
Tel: 886-2-2522-9172 |
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¡@¡@ As of the end of April 2004, 42 venture capital firms are invested. Totaling NT$6.4 billion had been made by the Development Fund. This initiative leads investments in venture capital industries in Taiwan totaling NT$62.5 billion.
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