Taiwanese VC firm Ondine Capital launches third AI and semiconductor fund
Taipei-based Ondine Capital has completed the first close of its third US dollar-denominated fund, targeting AI and chip startups.
Taipei-based venture capital firm Ondine Capital announced on November 3 the first close of its third fund, focused on supporting startups in the AI and semiconductor sectors. The fund, which is denominated in US dollars, has attracted commitments from institutional investors and strategic partners, including prominent Taiwanese semiconductor companies.
The investment strategy centers on the entire AI technology stack, ranging from foundational models and proprietary chips to infrastructure, software development, and physical AI applications. Early investments mentioned by the firm include Recursive Superintelligence, autonomous logistics provider Bot Auto, and photonics firm Salience Labs.
Alongside the fund launch, the firm announced the appointment of Brian Yen as a partner. Yen joins the firm from Headline Asia, where he previously led the Taipei office.
This capital raise occurs against a backdrop of significant venture funding flowing into late-stage AI companies, although early-stage startups continue to navigate a challenging fundraising environment. While Taiwan’s public AI and semiconductor sectors have experienced a valuation surge, private investment remains selective.