Today we’re announcing a new initiative to identify and invest in early-stage, privately-held Chinese companies with promisingtechnologies that can advance or complement the company’s coreexpertise, particularly in the areas of cleantech, display andsemiconductor manufacturing.
Applied Materials, through itsventure capital arm Applied Ventures, LLC, plans to identify companieswith breakthrough, disruptive or advanced technologies that couldbenefit from the company’s involvement and lead to new growthopportunities in China. Applied Ventures previously committed a totalof $10 million as a limited partner in two Chinese funds, DFJ Dragonfund L.P. and China Environment Fund IV, L.P., to further its investmentefforts 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 manufacturingcapabilities worldwide. Given China’s focus on growth in renewableenergy and high-value technologies, we believe it is an ideal region tofind opportunities for funding promising new companies that can helpadvance the near and long-term success of our business.
The newinitiative will be headed by Mr. Tony Chao, who has been with AppliedVentures since 2007. Mr. Chao has extensive experience in exploringinvestment opportunities in solid state lighting, energy storage andother cleantech areas and will be based in Shanghai. Mr. Chao serves asApplied Ventures’ board observer in connection with the company’sinvestments in Tera-Barrier Films Pte. Ltd., Enki Technologies, Inc.,and Semprius Inc. Prior to coming to Applied Materials, Mr. Chao wasaffiliated with Mustang Ventures based in Shanghai, China.