Taiwan's Fubon Life commits $39.5m to latest AppWorks fund
Fund expected to invest in 50 to 60 deals, if it reaches target size of $360m
Fubon Financial says its insurance unit is taking up to 20% of the final fund size of AppWorks Fund IV, which will invest in Taiwan and Southeast Asia. (Source photos by screenshot from Fubon Financial and AppWorks websites)
CEBU, Philippines -- Fubon Life Insurance, the insurance unit of Taiwanese financial conglomerate Fubon Financial, is investing up to 1.2 billion New Taiwan dollars (about $39.5 million) in the fourth flagship fund of Taiwan-based venture capital firm AppWorks.
Fubon Financial told the Taiwan Stock Exchange that its insurance unit is taking no more than 20% of the final fund size of AppWorks Fund IV, which will invest in Taiwan and Southeast Asia.