Industrial Innovation and Transformation Fund
Funds Taiwanese industrial transformation through co-investment vehicles for mergers, spin-offs, and restructuring.
The Industrial Innovation and Transformation Fund is a NT$100 billion sovereign co-investment vehicle managed by Taiwan's National Development Fund (NDF), which operates under the Executive Yuan pursuant to Article 29 of the Statute for Industrial Innovation. The NDF was established in 2006 and its mandate encompasses direct investment, loan financing, and assistance to central government authorities in projects designed to accelerate industrial innovation, promote economic transformation, and improve the structural competitiveness of Taiwanese industry. The Industrial Innovation and Transformation Fund specifically addresses the needs of existing domestic enterprises that require financial support to restructure, upgrade, or transform their operations.
NDF deploys the fund's capital alongside private investors through co-investment in four categories of corporate transformation activity: merger plans, acquisition plans, company division plans, and other investment plans that are conducive to innovation and transformation. The fund is open to domestic enterprises requiring innovation and transformation, as well as institutional or private investors that are actively assisting such enterprises. The co-investment structure means NDF acts as a financial partner alongside private capital, leveraging the NT$100 billion allocation to catalyze a larger pool of transformation financing across Taiwanese industry.
This is an equity and M&A co-investment instrument — not a grant. Eligible participants are domestic Taiwanese enterprises and their institutional or private investment partners. Application and review are governed by NDF guidelines for the program. There is no competitive deadline cycle published on the NDF website; prospective participants should contact the NDF directly through the official portal at df.gov.tw to obtain current application procedures and investment review schedules. The program is distinct from NDF's Business Angel Investment Program, which targets early-stage startups, and the Venture Capital Investment program, which operates through LP fund commitments.
Deploys NT$100 billion of NDF capital alongside private investors to fund mergers, acquisitions, divisions, and industrial transformation plans for domestic Taiwanese enterprises.
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