Applied Ventures Ramps Investment in Korea with New Innovation Fund
June 23 2017 - 12:30AM
Applied Ventures, LLC, the venture capital arm of Applied
Materials, Inc., today announced it is accelerating innovation in
Korea’s technology industry by forming an investment fund with the
Korea Venture Investment Corporation (KVIC). The goal of the
Applied Ventures Innovation Fund is to invest in promising Korean
startups across a broad range of established and emerging
industries including semiconductor, display, robotics, healthcare,
energy storage and more. The fund launched today with a workshop
for startup companies and the venture capital community.
“Applied Materials has been a part of the Korean technology
industry for 30 years and we share a long history of enabling
technology innovation with our customers,” said Om Nalamasu,
president of Applied Ventures and Chief Technology Officer of
Applied Materials. “With this new Innovation Fund, we are
partnering with the Korean government to invest in the next wave of
entrepreneurs to spur new breakthroughs that can advance technology
throughout the world.”
The Applied Ventures Innovation Fund I, L.P. will be managed by
Applied Ventures and is the latest example of how Applied Materials
is supporting the growth of Korea’s technology ecosystem. Korea
currently accounts for the highest number of Applied Ventures’
investments outside of the United States. Launching the Innovation
Fund together with KVIC is intended to help further advance the
capabilities of high-tech startups and early-stage companies.
“Our goal at Applied Ventures is to seek out innovative
technologies and new ideas that can enable advances in
semiconductors and displays, as well as open up new markets,” said
Tony Chao, general manager and senior investment director of
Applied Ventures. “Korea’s outstanding talent, R&D intensity
and manufacturing capability provide a fertile ground for startups.
Applied Ventures has been actively investing in Korea for several
years and we are excited to build on this foundation by
establishing the Innovation Fund with KVIC.”
For more information on the Innovation Fund, please contact
applied_ventures@amat.com.
About Applied MaterialsApplied Materials, Inc.
(Nasdaq:AMAT) is the leader in materials engineering solutions used
to produce virtually every new chip and advanced display in the
world. Our expertise in modifying materials at atomic levels and on
an industrial scale enables customers to transform possibilities
into reality. At Applied Materials, our innovations make possible
the technology shaping the future. Learn more at
www.appliedmaterials.com.
About Applied VenturesApplied Ventures, LLC,
the venture capital arm of Applied Materials, invests in
early-stage technology companies that promise to deliver high
growth and exceptional returns. Our investments help develop
technologies and markets that provide natural extensions to Applied
Materials’ core business and stimulate the growth of applications
for semiconductors, displays, and related products and
services. Learn more at www.appliedventures.com.
Editorial/Media Contacts:Yijung Jung (Korea)
+82.31.724.7111Ricky Gradwohl (USA) 408.235.4676
Investor Relations Contact:Michael Sullivan
408.986.7977
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