TSMC to Invest $5 Million in Venture Capital Fund Maverick Silicon Fund II; Shares Up 3%

MT Newswires Live11-11 11:40

Taiwan Semiconductor Manufacturing Co (TPE:2330), d/b/a TSMC, plans to invest $5 million in Maverick Silicon Fund II, L.P., a venture capital fund, through its subsidiary TSMC Partners, according to a Tuesday filing to the Taiwan bourse.

The chip maker's shares were up nearly 3% in Wednesday's trade.

The investment, which was approved by TSMC's board on Tuesday, is intended as a long-term investment that will be made within the term of the venture capital fund.

Its cumulative investment in the fund will amount to $5 million, representing a stake of less than 10%.

The company said that if TSMC Ventures, a proposed wholly owned subsidiary, is incorporated before the investment is made, it may choose to invest through either TSMC Partners or TSMC Ventures.

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