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Tokyo Electron to launch venture capital program in U.S

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Tokyo Electron Limited (TEL) has announced that it is forming TEL Venture Capital, Inc., a wholly-owned subsidiary, to make strategic seed and early stage investments focusing on promising technological innovations.
The new subsidiary, TEL Venture Capital, Inc., will identify, evaluate and utilise promising upcoming technologies in a wide range of areas worldwide. In order to leverage the Silicon Valley's unique venture capital community, and to have quick access to the latest technological advancements, the company will be based in California.The firm plans to invest up to $10 million annually. Mitsuyuki Yamaguchi, currently senior manager of marketing at TEL, has been tapped as the President of the new subsidiary. "TEL has excellent R&D facilities around the world, and we are working to establish closer collaboration with universities and research firms. However, we realise that vast amounts of innovation occur beyond our purview. By identifying and utilising promising technologies developed outside of TEL, we hope to reach early-stage development opportunities in our core business, as well as find new diversification opportunities," said Mitsuyuki Yamaguchi, president of the new venture capital subsidiary. The new subsidiary will be officially established July 1, 2006.
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