Acer to Set-Up VC Fund

Acer is reported to have set up a venture capital fund as it seeks long-term investments to strengthen its technology development. Acer Venture Capital manages more that NT$1 billion ($33.5 million) and is overseen by an investment director who was brought into the company to manage the fund.

Acer’s chairman and founder, Stan Shih, was quoted as saying that the company was struggling today because it had failed to make sufficient long-term investments over the past 10 years. AVC will be assessing appropriate investment targets which it believes can generate good financial returns in the future and is expected to make final decisions by the end of the year.