Excellent timing to start a FO venture fund.....AMAT once again taking advantage of opportunities presented by the Market.
Applied Materials Announces Formation of Venture Capital Fund
Ventures I to Provide Early-Stage Investments for Optical Communications Component Startups
SANTA CLARA, Calif.--(BUSINESS WIRE)--Oct. 26, 2001-- Applied Materials, Inc. (Nasdaq:AMAT - news) announced today that it has created a venture capital fund, Applied Materials Ventures I, L.P. (Ventures I), to team with emerging companies that are developing the next wave of processing technologies and silicon optical devices. Ventures I plans to invest in companies with promising thin-film processing and device innovations that potentially may create alternative manufacturing competencies for both the semiconductor and emerging optical communications components industries.
``Our goal is to provide funding for companies that are on the leading edge of scientific and technical breakthroughs that can positively impact the semiconductor industry, and provide opportunities for Applied Materials to leverage its manufacturing expertise within the optical communications industry,'' says Joseph R. Bronson, executive vice president, Office of the President, and chief financial officer of Applied Materials. ``By teaming with these companies to fund strategic projects, we hope to prospect new technologies and bring them to maturity more rapidly.''
Ventures I, a limited partnership, will be funded by Applied Materials and the general partner. Ventures I will work with other venture capital firms to provide funding and active project feedback, both of which are essential to developing market winners and building industry-leading companies.
``Startups are often highly motivated and focused,'' said Julien Nguyen, managing general partner of Ventures I. ``It's that type of single-mindedness that can be used to effectively push new technology developments forward. Ventures I can bring tremendous value to startups through its deep knowledge of semiconductor processes that are essential in the development of breakthrough electronic or optical integrated circuits.''
Optical components use photons (or light waves), rather than electrons, to carry signals. Since photons travel at the speed of light, optical-based technologies have the potential to enable greatly enhanced computer speed, Internet/telecommunications access and data storage capacity.
According to Strategies Unlimited, a market research firm, the total optical component market, including the fiber optics and electronics segments, totaled $12.6 billion in 2000 and is expected to grow to an estimated $22 billion market in 2005.
For more information regarding Ventures I, please go to the Web Site: www.appliedvc.com.
Applied Materials (Nasdaq:AMAT - news), the largest supplier of products and services to the global semiconductor industry, is one of the world's leading information infrastructure providers. Applied Materials enables Information for Everyone(TM) by helping semiconductor manufacturers produce more powerful, portable and affordable chips. Applied Materials' Web site is appliedmaterials.com. |
