TCL Takes Aim at US Startups With High-Tech Fund Investment
Dou Shicong
DATE:  Mar 25 2019
/ SOURCE:  yicai
TCL Takes Aim at US Startups With High-Tech Fund Investment TCL Takes Aim at US Startups With High-Tech Fund Investment

(Yicai Global) March 25 -- China's TCL, one of the country's biggest television makers, aims to tap high-tech startups in the US following an investment in a fund based in the country.

TCL will invest USD25 million in Delaware-based Sierra Ventures' high-tech-focused Fund XII, comprising up to 10 percent of the total, the Guangdong-based firm said in a statement. Sierra aims to invest in Software-as-a-Service, cloud, Internet of Things, artificial intelligence, virtual reality and network security.

The two parties have worked together since 2012 when TCL invested USD22 million in the X fund and again in 2015 when contributing USD15 million to XI.

TCL carries out research independently on semiconductor display technology, AI and big data, as well as intelligent manufacturing and industrial Internet, it said, adding that the firm aims to promote internal technological innovation capabilities and actively uses strategic cooperation, investments, mergers and other means to expand the industrial chain and  benefit its main business in return.

Founded in 1981, TCL is the leading manufacturer of liquid crystal display TVs and LCD glass substrates in China. Its other products include mobile phones, refrigerators, air conditioners, washing machines. The firm has opened sales units in more than 80 countries and regions, and its business covers more than 160 countries and regions globally.

Editor: William Clegg

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Keywords:   TCL,Sierra Ventures