Wed, Apr 07, 2004 - Page 10 News List

Infineon plans millions for startups

BLOOMBERG

Infineon Technologies AG, Europe's second-largest semiconductor maker, plans to invest as much as US$50 million this year in semiconductor-related startups in China, Singapore and Taiwan.

The Munich-based company is scouting for budding companies that supply chip-based components to wireless phones and other electronics makers across Asia, said David Ong Chi Kang, an investment principal at Infineon's Asian venture capital business.

Infineon typically invests about US$2 million to buy minority stakes in such companies, he said.

"Infineon can help these companies with market knowledge and technical skills," Ong said on the sidelines of the Asia Venture Capital Forum in Tokyo. Infineon set up an Asian venture capital unit last year that is currently focusing on startups in North Asia, excluding Japan, he said.

Infineon chief financial officer Peter Fischl said last month the ousting of chief executive officer Ulrich Schumacher won't change the company's business strategy.

Infineon plans to allocate to China almost 30 percent of its total investments in the next three years, Schumacher said in January.

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