Qualcomm Inc. (Nasdaq: QCOM) announced late Wednesday that it has committed to investing up to $150 million in Chinese startup companies across all stages.
A release from Qualcomm said the telecommunications company will invest in Chinese companies that further the development of mobile technologies in the Internet, e-commerce, semiconductor, education and health sectors. Qualcomm recently funded the mobile education start-up Cambridge Wowo and mobile health care company Boohee.
Qualcomm Ventures, the venture investment arm of Qualcomm, will advise and direct Qualcomm's investment activities with respect to the strategic investments. Qualcomm has been actively investing in China for more than 10 years.
The new commitment, Qualcomm said, is driven by the burgeoning start-up community in mobile and wireless, as well as the success Qualcomm has had with several Chinese investments. Prior investments that led to successful exits in Chinese companies, Qualcomm reports, include Enorbus, acquired by Walt Disney Co. (NYSE: DIS); Aicent, acquired by TA Associates; and NetQin (NYSE: NQ).
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