[99-11-01] AsiaTech Ventures Targets Java Developers
By Staff, IT Daily.
HONG KONG, CHINA,
01 Nov 1999, 9:40 AM CST
AsiaTech Ventures Targets Java Developers 11/01/99 HONG KONG, CHINA, 1999 NOV 1 (NB) -- By Staff, IT Daily. AsiaTech Ventures, one of Hong Kong's leading venture capital firms, is set to launch its latest fund, targeting Asian Java developers.
AsiaTech Ventures has raised HK$375 million for the fund, which is dedicated to supporting Asian Internet entrepreneurs working on the Java platform.
The Asia Java Fund has raised support from some of the region's leading technology developers, including Richard Li's Pacific Century Cyberworks as well as one of its largest competitors, Sun Hung Kai Properties. Other supporting technology giants are Japan's Fujitsu and NTT DoCoMo, two Asian telecommunication providers - Cable & Wireless HKT and Singapore Telecom, as well as the Singapore government's Technopreneurship Investment Fund of Singapore and venture capital firm Nomura/JAFCO Investment (Asia). The chief western partner in the fund is Java creator Sun Microsystems (http://www.sun.com ).
At the launch of the fund, AsiaTech Ventures founder and executive director, Hanson Cheah, is expected to announce the first recipient of investment from the fund - Java developer BizTone.com. The company was founded by former Sun executive Mico Matsumura.
BizTone.com is on the Web at biztone.com
AsiaTech Ventures is on the Web at asiatechv.com
Reported by Newsbytes.com, newsbytes.com
09:40 CST
(19991101/WIRES ASIA, BUSINESS, ONLINE/)
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