News & Analysis

JAFCO raises third Asia technology fund

In the last month, Japan-headquartered venture capital firm JAFCO has listed two portfolio companies on Nasdaq and closed a third Asia technology fund on $168m.

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JAFCO, the Asian venture capital firm with offices in Singapore, Hong Kong, Beijing, Taipei and Seoul, has closed its third Asian technology fund on $168 million, and listed two of its portfolio companies on Nasdaq.
 
According to a company statement, JAFCO Asia Technology Fund III (JATF III) will invest in technology-related companies with high growth potential, particularly in China, Taiwan and Korea.
 
JATF III investors include sponsor JAFCO, Japanese institutions and corporations as well as several Asian listed companies. So far, JAFT III has invested in five companies. No further details from the firm were immediately available. 
 
The JAFCO portfolio companies that recently made debuts on Nasdaq were Chinese wireless services company GrenTech Holdings (formerly known as Powercom) and Taiwan’s semiconductor developer Himax.

GrenTech’s share value has fallen by about 30 percent from its debut price on March 30, while Himax’ share price has been relatively flat since March 31.