STMicroelectronics has launched ‘ST New Ventures’, its corporate venture capital fund currently under incorporation. The fund will co-invest with financial and corporate venture capitalists and has been designed accordingly.
The venture fund will invest in technology, product and service start-up companies, preferably at early stage, says the company. Healthcare, Cleantech and Smart Infrastructure are among the main areas of focus.
In addition to financial investment, ST New Ventures will bring to its portfolio companies a deep comprehension of the semiconductor industry – from technology to products, manufacturing and markets worldwide – and the experience of how semiconductor can enable new applications.
ST New Ventures will be an ST fully owned subsidiary headquartered in Geneva, Switzerland, led by Loic Lietar, managing director.