Qualcomm commits $150 mln to Chinese venture


Mobile technology giant Qualcomm Incorporated has announced a commitment to invest up to $150 million in Chinese startup companies across all stages.

Qualcomm will invest in Chinese companies that further the development of mobile technologies in areas such as Internet, e-commerce, semi-conductor, education and health.

Qualcomm Ventures, the venture investment arm of Qualcomm, will advise Qualcomm’s investments. Recent investments include Cambridge Wowo, a mobile education start-up, and Boohee, a mobile healthcare company.

Qualcomm has been investing in China for over 10 years. Previous investments which have realised successful exits in Chinese companies include Enorbus (acquired by Walt Disney Co); Aicent (acquired by TA Associates) and NetQin (NYSE: NQ).

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