Line Corp is considering investing in a planned government-backed investment firm supervised by the National Development Council (NDC), council Deputy Minister Kung Ming-hsin (龔明鑫) said on Thursday.
Kung said that Line has been in talks with the government about a possible injection of capital into one of three funds proposed by the investment firm Taiwania Capital Management Corp (台杉投資管理).
The three funds are expected to raise NT$10 billion (US$330 million) each, the council said.
The government has set up a preparatory office for Taiwania, which would have paid-in capital of NT$250 million.
The new company is expected to become operational early next month, the council said.
The first fund planned by Taiwania would invest in the Internet of Things (IoT) and is expected to attract six to seven investors in the first round of fundraising, the council said.
The fund is expected to raise NT$6 billion to NT$7 billion in the initial round, the council said.
Line is likely to invest in a second or third round of fundraising as they become necessary, Kung said.
The fund is expected to reach its goal of NT$10 billion by the end of next month, he added.
Line said it is evaluating every possible investment opportunity in Taiwan, but no decision has been made yet.
Taiwania’s second fund would invest in the biotech and medical care businesses, and is expected to complete fundraising by the end of the year, Kung said.
The third fund would focus on other innovative industries, such as “green” energy and “smart” machinery, but no timetable for fundraising activities has been set, the council said.
The largest shareholder in Taiwania will be the National Development Fund with a 40 percent stake, it added.
Taiwania welcomes investment by foreign firms, as their involvement would help Taiwan gain access to innovative industries around the world, Kung said.
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