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Taiwan Experience The first venture capital corporation, Acer Acer
Technology VenturesTechnology Ventures, was established in 1984 by Mr. Stan ShihMr. Stan Shih, founder of Acer group
Over the past 20 years, Taiwan's VC industry has been raising NT$180BNT$180B in funds
Over 9000 domestic and foreign companies were invested by Taiwan's venture funds and over 400 companies to go public in both Taiwan and abroad
80% to 90% of Taiwan’s venture funds is infused into domestic hi-tech companiesdomestic hi-tech companies which create a NT$1.9 trillion industryNT$1.9 trillion industry
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Taiwan Venture Capital Snapshot
Funds 1997 1998 1999 2000 2001 2002 2003 2004
No. of Venture Capital Fund 76 114 160 192 199 217 240 259
New Funds in Year 28 38 46 32 7 18 23 19
Discontinued Funds 3 3 0 0 4 1 3 4
Total Discontinued Funds 4 7 7 7 11 12 15 19
Non-operating Funds 0 0 0 15 12 11 11 11
Total Operating Funds 72 107 153 170 176 194 214 229
Annual Growth Rate 100% 35.7% 21.1% -30.4% -78.1% 157.1% 27.8% -17.4%
No of Venture Fund Management Firms 38 59 70 74 79 86 93 101
Average No. of Funds Managed 1.89 1.81 2.19 2.30 2.23 2.26 2.30 2.27
Data source: TVCA
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Number of Venture Capital Funds
Data source: TVCA
28
38
46
32
7
1823
19
0
10
20
30
40
50
1997 1998 1999 2000 2001 2002 2003 2004
-100%
-50%
0%
50%
100%
150%
200%
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Taiwan Venture Capital StatusCapital Under Management (NT$1B) 1997 1998 1999 2000 2001 2002 2003 2004
Total Fund Size 42.63 72.93 103.43 128.08 134.11 151.29 171.71 184.5
New Funds Raised in Year 17.17 30.3 30.49 24.65 6.03 17.18 20.42 12.79
Annual Growth Rate 154% 76.5% 0.6% -19.2% -75.5% 184.9% 18.9% -37.4%
Average Fund Size 0.59 0.68 0.68 0.75 0.76 0.78 0.80 0.81
Investments (NT$1B)
Total Number of Investments 1839 2994 4493 6343 6957 7560 8719 9782
Total Amount Invested 43.52 65.11 94.71 125.51 133.66 145.4 161.94 177.21
No. of Investments in Year 951 1155 1499 1850 614 603 1159 1063
Annual Growth Rate 101.90% 21.5% 29.8% 23.4% -66.8% -1.8% 92.2% -8.3%
Amount of Investment in Year 17.6 21.591 29.592 30.803 8.46 11.74 16.54 15.27
Annual Growth Rate 99.70% 22.7% 37.1% 4.1% -72.5% 38.8% 40.9% -7.7%
Average No. of Investments Per Fund 13.2 10.8 9.8 10.9 3.5 3.1 5.4 4.6
Average Amount of Investments Per Fund 0.018507 0.018694 0.019741 0.01665 0.013779 0.019469 0.014271 0.014365
Ratio of Total Investment to Paid-in Capital 102.1% 89.3% 91.6% 98.0% 99.7% 96.1% 94.3% 96.0%
Data source: TVCA
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New Venture Capital Funds Raised
17.17
30.3 30.49
24.65
6.03
17.18
20.42
12.79
0
5
10
15
20
25
30
35
1997 1998 1999 2000 2001 2002 2003 2004
-100%
-50%
0%
50%
100%
150%
200%
Data source: TVCA
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New Venture Capital Funds Invested
17.6
21.591
29.592 30.803
8.46
11.74
16.54 15.27
0
5
10
15
20
25
30
35
1997 1998 1999 2000 2001 2002 2003 2004
-120%
-80%
-40%
0%
40%
80%
120%
Data source: TVCA
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Source of Taiwan Venture Capital Funds, 2004
Corporate Investors39.25%
Securities Firms1.78%
InvestmentCompanies
18.44%
Private Individuals13.90%
Government4.35% Financial Holding
Companies5.51%
InsuranceCompanies
9.52%
Banks7.25%
Data source: TVCA
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Investment by Industry, 2004
Data source: TVCA
Semiconductor18.94%
Information14.56%
Electronics14.33%
Opto-Electronics12.16%
VC Industry2.52%
Internet2.21%
Other6.68%
Other Major Technology3.07%
Traditional ManufacturingIndustry3.85%
Biotech3.82%
Software5.03%
Telecommunications12.83%
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Investment by Stage, 2004
Data source: TVCA
Expansion48.73%
Startup22.20%
Mezzanine23.05%
Turnaround0.56%
Seed5.46%
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Investment by Region, 2004
Data source: TVCA
Domestic80.16%
US ex-Silicon4.08%
Silicon Valley9.96%
Other2.60%
Europe0.22%Asia
2.98%
UMC Capital
13Page 13
System Architecture Knowledge
IP and Design Methodology
World Class Manufacturing
Test & Packaging Solutions
SOC Process Platform
• 0.13um, 90nm
• Mixed Signal /RF
• E-Memories
UMC Provides Total Solution for Today’s SOC Design
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UMC Capital Investment Profile
There are around 140 portfolio companies with Market Cap. over US$ 4B, as of 2004
UMC 2004 Market Cap.: US$17.9B UMC 2004 Revenue: US$3.7B
IPIC Design / Component
Foundry
EDA
Packaging / Testing
System/Module House
Firmware/ Software
Opportunities
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Key Successful Factors
Infrastructure and Culture Human Resource and Education Government Strategy and
Regulations Platform and Clustering Effect
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Spotlight
High Growth and Large Scale India (Software Powerhouse)
Information / Software / ServicesTaiwan (Computer Kingdom)
Semiconductor / Optoelectronics Biotech / Digital Content
Innovation and NetworkValue Chain / Gang Fighting
Thank You!
