Venture Capital Investment

Venture Capital Investment

Invests sovereignly in Taiwanese strategy industries through venture fund commitments and direct equity placements.

The Venture Capital Investment program is a sovereign investment initiative 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 formally constituted in 2006 through the merger of the Development Fund — established in 1973 under the Statute for the Encouragement of Investment — and the Sino-American Fund for Economic and Social Development. The NDF's core mandate is to speed up industrial innovation, promote economic transformation, and support key industries through investing, financing, or assisting relevant projects, with the stated goals of improving value-added capacity, R&D capability, and branding of industries and enterprises in Taiwan.

The Venture Capital Investment program pursues this mandate by making LP commitments to VC funds and direct equity investments in new ventures operating in key industries aligned with government policy priorities. The program is governed by the "Guidelines for the Review and Management of Venture Capital Investment Enterprises Invested in by the National Development Fund (Phase 2)." Eligible investment targets include new ventures in strategic industries such as artificial intelligence infrastructure, biotechnology, semiconductors, hardware, and energy — sectors consistent with NDF's broader industrial innovation mandate. The program intentionally introduces private capital to key industries so as to establish a core industry system and improve Taiwan's industrial structure.

This is an equity and LP instrument — not a grant. Direct financial terms, fund sizes, and application procedures for individual investment decisions are not publicly disclosed on the NDF website. Prospective VC funds seeking LP commitments or startups in strategic industries seeking NDF direct investment should engage NDF through its official portal at df.gov.tw. NDF investment decisions are made through an internal review process weighted toward strategic industrial alignment rather than financial return alone.