Global semiconductor leader STMicroelectronics (NYSE: STM) has launched its own corporate venture capital fund.
ST New Ventures will co-invest (with financial and corporate venture capitalists) in technology, product and service start-up companies, preferably at early stage. It will mainly focus on Healthcare, Cleantech and Smart Infrastructure areas. In addition to financial resources, ST New Ventures intends to bring to its portfolio companies its deep comprehension of the semiconductor industry – from technology to products, manufacturing and markets worldwide – and the experience of how semiconductor can enable new applications.
ST New Ventures will be an ST fully owned subsidiary headquartered in Geneva, Switzerland, led by Loic Lietar, Managing Director.