Fenox Venture Capital and AsusTek Computer Inc have teamed up to launch a $50 million venture fund. The fund will focus on startups in the areas of artificial intelligence, internet of things, big data, cloud, AR/VR and other related technologies.
SAN JOSE, Calif.–(BUSINESS WIRE)–AsusTek Computer Inc., better known as ASUS, one of the world’s largest producers of desktops, laptops, mobile phones and consumer electronics, is partnering with Silicon Valley-based Fenox Venture Capital to launch a US$50 million venture fund. This partnership with Fenox Venture Capital will serve as a gateway for ASUS to access top technology startups through Fenox VC’s global network. In turn, ASUS will collaborate with these startups and provide the startups with access to the greater Asian and global markets.
“Finding the right global partner was a key step in our search for cutting-edge technologies that will enhance the experience of our customers,” said Jonney Shih, Chairman of ASUS. “Fenox Venture Capital is one of the best partners to assist ASUS in our global outreach due to their innate understanding of the Asian business culture and unmatched access to North America, Europe and the broader Asian market.”
“Fenox VC is a bridge between top global startups and top global corporations. We create win-win partnerships between technology startups and global enterprises,” said Anis Uzzaman, General Partner and CEO of Fenox Venture Capital. “This fund will enable us to invest in startups that will benefit from collaboration with ASUS.”
Many of the top startups in Silicon Valley and around the world are looking for a reliable technology, design, manufacturing and post-sales expansion partner in Asia. ASUS is a renowned computer electronics and mobile phone manufacturing company that can not only address those needs but also help startups expand their market reach into Asia and other global markets through the extensive ASUS network, while ensuring the protection of the startups’ intellectual property.
The new $50 million fund will focus on startups in the areas of AI, IoT, Big Data, Cloud, AR/VR and other related technologies that require hardware-software integration and can benefit from collaboration with ASUS.
ASUS, formally AsusTek Computer Inc., is a Taiwan-based, multinational computer hardware and consumer electronics company that was established in 1989. Dedicated to creating products for today’s and tomorrow’s smart life, ASUS is the world’s No. 1 motherboard and gaming brand as well as a top-three consumer notebook vendor.
ASUS became widely known in North America when it revolutionized the PC industry in 2007 with its Eee PC™ series of netbook computers. Today, the company is pioneering new mobile trends with the ASUS ZenFone™ series, and it is rapidly developing virtual and augmented reality products as well as IoT devices and robotics technologies. Most recently, ASUS introduced Zenbo, a smart home robot designed to provide assistance, entertainment, and companionship to families.
In 2015 and 2016, Fortune magazine recognized ASUS as one of the World’s Most Admired Companies, and for the past four years Interbrand has ranked ASUS as Taiwan’s most valuable international brand. The company has more than 17,000 employees, including a world-class R&D team. Driven by innovation and committed to quality, ASUS won 4,385 awards and generated approximately US$13.3 billion in revenue in 2016.
About Fenox Venture Capital
Fenox Venture Capital is a Silicon Valley-based venture capital firm that has invested in more than 100 companies globally. Investment areas include IT, Health IT, Artificial Intelligence, IoT, Robotics, Big Data, VR/AR, FinTech, and Next Generation Technologies. Fenox VC leverages its global network spanning the US, Asia, Europe, and the Middle East, to support the global expansion of its portfolio companies. Read more about FenoxVenture Capital at www.fenoxvc.com.