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July 24, 2014

Qualcomm to invest $150m in Chinese startups

Companies like Rakuten, Monk’s Hill Ventures and CyberAgent Ventures have set up similar Funds for start ups in Asia.

By CBR Staff Writer

San Diego-based wireless chipset maker Qualcomm has announced that it has created a new $150m fund to invest in Chinese start ups across all stages.

The company plans to invest in companies that are developing mobile technologies in areas of e-commerce, semiconductor, education and health in China.

Recently, Qualcomm invested in two companies, mobile education start up Cambridge Wowo and mobile healthcare company Boohee.

Qualcomm’s strategic investment arm, Qualcomm Ventures, will advise on the strategic investments to be made in China.

Previously, Qualcomm invested in companies like Enorbus, NetQin, Aicent, Xiaomi, CooTek and MadHouse. It recently funded two mobile-based startups: Cambridge Wowo and Boohee.

Qualcomm said companies receiving investments can beneift from its mobile technologies as well as take advantage of the company’s relationship with the industry.

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Qualcomm CEO Steve Mollenkopf said: "Srategic collaboration with and technical support of the Chinese wireless industry has helped this vibrant ecosystem, helped drive direct and indirect employment, and contributed to economic growth in the entire Chinese wireless industry.

"Through these strategic collaborations and increased venture investments, Qualcomm remains committed to supporting the continuous growth of China’s flourishing mobile ecosystem.

"The development of 4G LTE networks, devices and applications, and addressing industry evolutions and challenges, including the impending 1000x mobile data challenge."

Qualcomm sees potential in the Chinese semiconductor industry as well, and wants to increase investments in the sector to help companies develop semiconductor equipments.

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