STMicroelectronics launches corporate venture capital fund

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STMicroelectronics has launched a corporate venture capital fund currently under incorporation.

Developed as a result of the acceleration of the pervasion of the semiconductor industry, ST New Ventures will invest in technology, product and service start up companies. This, says ST, will enable it to better understand advance emerging markets for which semiconductors are key. Among the main areas of focus are healthcare, cleantech and smart infrastructure. According to ST, in addition to financial investment, the venture has been established to provide a 'deep comprehension' of the semiconductor industry – from technology to products, manufacturing and worldwide markets – and how the devices 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 a fully owned subsidiary of ST and headquartered in Geneva, Switzerland, led by managing director, Loïc Liétar, pictured. "ST has always been pursuing aggressively emerging trends which have eventually led to major new market inroads for the company," said Liétar. "Where and how silicon could be used today can go well beyond its recognised markets and applications. ST New Ventures is a formidable tool to bring a different angle to ST's perspectives."