STMicroelectronics Launches Corporate Venture Capital Fund
"ST New Ventures" will invest in technology, product and service start-up companies serving emerging markets where semiconductor is key.
GENEVA, Dec. 15, 2011 /PRNewswire/ -- STMicroelectronics (NYSE: STM), a global semiconductor leader serving customers across the spectrum of electronics applications, announced today the launch of "ST New Ventures", its corporate venture capital fund currently under incorporation.
The acceleration of the pervasion of semiconductor has led ST to create a venture fund which will invest in technology, product and service start-up companies, preferably at early stage, to understand in advance emerging markets for which semiconductor is key. 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.
The fund will co-invest with financial and corporate venture capitalists and has been designed accordingly.
ST New Ventures will be an ST fully owned subsidiary headquartered in Geneva, Switzerland, led by Loic Lietar, Managing Director.
"ST has always been pursuing aggressively emerging trends which have eventually led to major new market inroads for the company. Where and how silicon could be used today can go well beyond its recognized markets and applications. ST New Ventures is a formidable tool to bring a different angle to ST's perspectives" said Lietar, Managing Director, ST New Ventures.
About ST New Ventures
Launched in December 2011, ST New Ventures, STMicroelectronics' corporate venture capital fund, invests globally in technology, product and service companies, preferably at early stage, in emerging markets where semiconductor plays a key role. For more information, visit www.stnewventures.com.
STMicroelectronics is a global leader serving customers across the spectrum of electronics applications with innovative semiconductor solutions. ST aims to be the undisputed leader in multimedia convergence and power applications leveraging its vast array of technologies, design expertise and combination of intellectual property portfolio, strategic partnerships and manufacturing strength. In 2010, the Company's net revenues were $10.35 billion. Further information on ST can be found at www.st.com.
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