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TMF Plans To Raise $173M

The government-funded venture capital firm TMF Management is seeking to raise about $172.89 million by December.

The government-funded venture capital firm TMF Management is seeking to raise about $172.89 million by December, Taipei Times reports. The fund, known as Taiwan Medtech Fund (TMF), got an investment of $34 million from the Executive Yuan’s National Development Fund in June.

State-run firms, including CPC, China Steel Corporation and Taiwan Sugar Corporation, are in discussions and their combined investments will not exceed $34.54 million. The venture capitalist plans to establish incubation centers and help market the end products in China.

Click here for the story from Taipei Times.

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