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Fund Created by PChome Online and Chunghwa Telecom Announces Startups Targeted for Investment

PChome Online

Executives from a US$13 million venture capital fund created by Taiwanese telecommunications firm Chunghwa Telecom and e-commerce giant PChome Online have announced the first batch of startups that will receive investment from the fund .

Caption: Taiwanese telecommunications firm Chunghwa Telecom and e-commerce giant PChome Online have announced the first batch of startups that will receive investment from the fund .
侯俊偉攝影

The selected startups include USPACE. Founded in 2016, this company has created a smartphone app that enables motorists to share parking areas in Taipei, as well as help weary drivers find the nearest open parking space.

Another company is FundPark, a leading Hong Kong-based trade finance platform, which aims to overcome traditional biases against investing in small and medium-sized companies.

The US$13 million fund with the moniker of CHT-PCH No. 1 provides capital and other resources to select startups in the fields of online financial services, internet-enabled medical services, big data and artificial intelligence.

CHT-PCH No. 1 appointed Cornerstone Ventures, a one-year-old U.S-based fund for investing in early-stage startups, to assess applicants and decide on the winning companies.

Cornerstone Ventures will arrange for each startup to receive US$ 200,000 to 1 million in seed capital and Series A round funding.

Cornerstone Ventures will also cover some Series A round follow-on investments and will also offer thenetworking opportunities and consulting services.

Feliciana Hsu
English journalist and PR for Global Affairs

Feliciana gained her MSc of Media Power and Public Affairs from Royal Holloway, University of London.

After graduating from London, she started her career of being journalist at Business Next Media and Meet Startup @TW Website, and specializes in interviewing about innovation and technology.

Within her career, she has interviewed various experts in their field, including Mr.Jimmy Wales, founder of Wikipedia; Fleur Pellerin, former French Minister of Small and Medium-sized Enterprises and Sir Christopher Pissarides, Nobel Prize Laureate in Economic in 2010.