Updated: Fenox Venture Capital, ASUS partner to launch $50m fund

The urban landscape of Taipei, with the Taipei 101 skyscraper in the background.

Fenox Venture Capital and Taiwan-based AsusTek Computer Inc (ASUS) are jointly launching a $50 million venture fund that will concentrate on technology startups operating in the areas of artificial intelligence (AI), Internet of things (IoT), Big Data, cloud, AR/VR and other related technologies.

The fund will invest in startups from all stages, Fenox told this portal. Ticket sizes will be between “a few hundred thousands” for early-stage startups and “a few million” for late stage startups, as well as follow-on investments.

The whole $50 million has been invested by the ASUS team, while Fenox has agreed to act as the fund manager. Fenox will be responsible to source top startup deals, run due diligence on them and finally invest in them from this new Fund. Once invested, Fenox will help these portfolio startups to have collaborations and partnerships with ASUS. Fenox VC will work as the “Matchmaker” between the startups and the ASUS team.

“This can immensely help the startups to grow and be successful as they receive technical and business mentorship from the experienced ASUS team. This can open up lots of business opportunities for the startup. ASUS will also be able to benefit from such top trendy technology partnership,” Uzzaman said in an exclusive interaction with DEALSTREETASIA.

He added that Fenox has maintained “deep relationships with both startups and large corporations traditionally”, making the company the perfect fit for ASUS’ vision for the fund – which will be deployed in Asian, European, and the US markets.

The Fund’s target is going to be to find and invest in startups globally. It will focus its investment in Asian, European and the USA markets as long as we are able to find technology startups that matches ASUS’s investment criteria.

“One of this Fund’s main focus would be the startups from Asia. Indonesia being one of the largest populated country in the region will have high potential to attract investment from this brand new fund,” Uzzaman stated.

ASUS is among the largest producers of desktops, laptops, mobile phones and consumer electronics globally, with the Fenox partnership serving as a gateway for it to access top technology startups through the VC’s global network. In turn, ASUS will collaborate with these startups and provide them with access to Asian and global markets.

“Finding the right global partner was a key step in our search for cutting-edge technologies that will enhance the experience of our customers,” said Jonney Shih, Chairman of ASUS. “Fenox Venture Capital is one of the best partners to assist ASUS in our global outreach due to their innate understanding of the Asian business culture and unmatched access to North America, Europe and the broader Asian market.”

Many startups in Silicon Valley and globally are seeking a reliable technology, design, manufacturing and post-sales expansion partner in Asia.

Fenox VC’s portfolio includes firms operating in IoT, robotics, AR/VR, fintech and other domains.

Also Read:

Fenox VC teams up with Wistron Corporation, launches new $20m fund

Exclusive: Active VC Fenox Capital eyeing more opportunities to invest in SE Asia

Asus partners Taiwan’s Foxconn to manufacture smartphones in India

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.