Taiwania Capital Taipei, TW
Taiwania Capital is a Taiwanese venture capital firm founded in 2017 by the National Development Fund of the Executive Yuan and private enterprises. It manages multiple sector-focused funds investing in early to growth-stage technology and biotech startups across Taiwan, the U.S., Japan, and Southeast Asia.
Founded 2017
Type Venture capital 9 TaiAx Life Science Fund L.P. 2024-08-27 2024-08-27 — USD200m TARGET, joint venture with Axil Capital. No verified final close; amount deliberately null.
CEE Fund — — Named investment fund confirmed by Taiwania's official portfolio classifications. No closed size or announcement date inferred from strategy budgets or fundraising targets.
Fund I — $150M Reported fund size at2021-09-25 and current official Funds page; vintage/final close not established (FundI NDC separately NTD4.65bn close2017-12-22).
Fund II — $200M Reported fund size at2021-09-25 and current official Funds page; vintage/final close not established (FundI NDC separately NTD4.65bn close2017-12-22).
Fund III — $59M Reported fund size at2021-09-25 and current official Funds page; vintage/final close not established (FundI NDC separately NTD4.65bn close2017-12-22).
Fund V — $56M Reported fund size at2021-09-25 and current official Funds page; vintage/final close not established (FundI NDC separately NTD4.65bn close2017-12-22).
Fund VI — $200M Taiwania Capital Buffalo Fund VI. Official Funds page reports a USD200m fund investing in edge and 5G infrastructure, electric-vehicle supply chains, semiconductors and data security. Announcement date is undisclosed.
Fund VII — — Fund VII is explicitly named in official portfolio classifications for biotechnology investments. Closed size/date and any relationship to the TaiAx joint venture remain unverified.
SEA Fund — — Named investment fund confirmed by Taiwania's official portfolio classifications. No closed size or announcement date inferred from strategy budgets or fundraising targets.
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$1M $100K – $2M Lithuania $1M $500K – $2M Vietnam — — – — — — – — — — – — — — – — — — – — — — – — — — – — — — – — — — – — — — – — — — – — — — – — — — – — — — – — — — – — — — – — — — – — — — – — — — – — — — – — — — – — — — – — — — – — — — – — — — – — — — – — — — – — — — – — — — – — — — – —
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$— 2026-05-12 Havoc Taiwania Capital $— 2026-05-07 Skeleton Technologies Taiwania Capital $— 2026-04-02 Alcatraz AI Taiwania Capital $9M 2025-09-30 Supernova.io Taiwania Capital , Y Combinator , EQT Ventures , Kaya VC , Credo Ventures , J&T Ventures , Reflex Capital , Wing Venture Capital $— 2024-01-23 Daytrip Taiwania Capital $7M 2024-01-17 Sky Engine Ai Movens Capital , Taiwania Capital $47M 2024 DataPelago Eclipse , Taiwania Capital $— 2024 Arris Bosch Ventures , Taiwania Capital $— 2023-11-09 Surglasses Inc. Taiwania Capital $12M 2023-10-04 Opsera Taiwania Capital , Felicis $— 2023-03-29 Genialis Redalpine , Taiwania Capital $— 2023-01-20 Oxipit Taiwania Capital $40M 2023-01-17 Photoneo Taiwania Capital , Credo Ventures , Earlybird Venture Capital $88M 2021-11-09 Arris Bosch Ventures , Taiwania Capital $— 2021-09-07 Windgap Taiwania Capital $— 2021-06-23 FIGUR8 Taiwania Capital $55M 2021-05-06 Oculii Taiwania Capital , Darren Liccardo $— 2020-04-10 Arris Taiwania Capital $— 2020-02-21 DSP Concepts Taiwania Capital $28M 2019-08-12 Light Field Lab Bosch Ventures , Taiwania Capital , Vinod Khosla , Vijit Sabnis , Khosla Ventures , Samsung Venture Investment Corporation , Verizon Ventures , Taiwania Capital Management Corporation , Robert Bosch Venture Capital , XYZ Venture Capital $— 2018-11-19 AEye Taiwania Capital $— Unknown date Orqa Taiwania Capital $— 2022-01-20 Pavilion Data Taiwania Capital $— 2021-07-19 Kdan Mobile Taiwania Capital $30M 2020-03-25 Regenacy Pharmaceuticals Taiwania Capital $42M 2019-01-07 Frequency Therapeutics Taiwania Capital $— Unknown date Appaegis Taiwania Capital $62M Unknown date Frequency Therapeutics Taiwania Capital
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team@apexlogos.ai · 6 hours ago
Investment-fund research reviewed 2026-10-06. Publicly identified funds, dates, amounts and fundraising status are below. Undisclosed commitments remain unknown; this is not a complete register of private SPVs or parallel entities.
Fund size and investment stages
Amounts below are USD unless stated. This is a multi-fund manager: there is no defensible single “fund size.” The [official Funds page](https://www.taiwaniacapital.com/en/funds ) is undated; its reported sizes do not automatically mean a newly announced final close.
| Fund / program | Reported amount | Date and status |
|---|---:|---|
| Fund I, IoT/technology | $150 million | Official 2021-09-25 announcement and current Funds page; established fund. NDC separately confirms NTD4.65 billion closing on 2017-12-22. |
| Fund II, biotech | $200 million | Official 2021-09-25 announcement; current Funds page repeats size. Vintage/final-close date not established. |
| Fund III, medtech | $59 million | Same official sources; vintage/final-close date not established. |
| Fund V, early-stage technology | $56 million | Named and sized in 2021-09-25 announcement; current page repeats size. Final-close date not established. |
| Additional technology fund, likely Fund VI | $200 million | Current Funds page describes edge/5G, EV and semiconductors. Fund heading is an image omitted from browser text; exact name/amount mapping needs visual confirmation. Do not write this mapping as certain. |
| Central and Eastern Europe Investment Fund | $200 million deployment program | Managed since March 2022; official page states stage-agnostic equity investing. A committed investment budget, not evidence of a conventional private fund close. |
| TaiAx Life Science Fund L.P. | **$200 million target** | [Official launch, 2024-08-27](https://www.taiwaniacapital.com/en/news/category/news/2024/news240827 ). Joint venture with Axil Capital. No final-close amount verified. |
| Southeast Asia fund with Hive Ventures | **$100 million target** | Current Funds page; no final close verified. |
The 2021 firm announcement reported **$490 million AUM**, an historical manager aggregate distinct from individual funds; it does not equal the sum of the rounded fund figures exactly. Do not use it as current AUM. Searches for 2025/2026 fund announcements did not establish a newer final close. The [official portfolio](https://www.taiwaniacapital.com/en/portfolios/category ) includes Fund VII investments, so this table is not an exhaustive inventory and Fund VII's size remains missing.
**Stages:** the official 2021 announcement explicitly covers seed through growth stages. The current Funds page explicitly focuses Fund V on early startups and CEE on all stages. TaiAx's 2024 launch explicitly supports early-stage startups/emerging companies. Historical A/B/C rounds below corroborate range, but do not establish identical current mandates for every fund.
Additional fund evidence checked in the final pass:
- Fund VI: [source](https://www.taiwaniacapital.com/en/portfolios/category ), [source](https://www.taiwaniacapital.com/en/funds ).
- Fund VII: [source](https://www.taiwaniacapital.com/en/portfolios/category ).
- CEE Fund: [source](https://www.taiwaniacapital.com/en/portfolios/category ).
- SEA Fund: [source](https://www.taiwaniacapital.com/en/portfolios/category ).
Visual confirmation of the official Funds page resolves the heading previously omitted from extracted text: Taiwania Capital Buffalo Fund VI, USD200m. Fund VII is separately named in official portfolio classifications; its size/date and any relationship to TaiAx remain unverified.
Funds recorded in Adex after this review:
| Fund | Disclosed amount | Announcement / filing date |
| --- | --- | --- |
| CEE Fund | Undisclosed / unverified | Unknown |
| Fund I | USD 150000000 | Unknown |
| Fund II | USD 200000000 | Unknown |
| Fund III | USD 59000000 | Unknown |
| Fund V | USD 56000000 | Unknown |
| Fund VI | USD 200000000 | Unknown |
| Fund VII | Undisclosed / unverified | Unknown |
| SEA Fund | Undisclosed / unverified | Unknown |
| TaiAx Life Science Fund L.P. | Undisclosed / unverified | 2024-08-27 | SHOW MORE
team@apexlogos.ai · 7 hours ago
Match research 2026-10-06 / TaiwaniaCapital / sha256:bdbc196c20418bbe326f3191c1025bf346b026931c5412567634c93f9073d81a / part 2 of 2
Imported completed research. Baseline Adex/Signal statements describe prior state, not independent verification. Retain cited attribution, date, currency and classification caveats.
**MedRhythms — direct neurorehabilitation technology, verified portfolio attribution.** Taiwania's [dedicated company page](https://www.taiwaniacapital.com/en/portfolios/category/medrhythms ) and portfolio index list MedRhythms (Fund III). The [company website](https://medrhythms.com/ ) explains its sensor/software/music platform targets neural circuitry using rhythmic auditory stimulation, with walking therapeutics for neurological injuries/diseases. This meets a neurotechnology interpretation extending to technology-driven neurological rehabilitation, rather than BCI-only investing. **Taiwania's investment date, exact round, amount and lead status remain unverified.** The publicly reported 2021 $25 million Series B names Morningside, Advantage and Werth; do not infer Taiwania participation in that round merely from today's portfolio listing. Both official pages are undated, accessed 2026-10-06.
| Neuro-related company | Evidence and classification | Transaction evidence |
|---|---|---|
| **Regenacy Pharmaceuticals** | Neurology biotech: HDAC6-inhibitor drug development for diabetic/peripheral neuropathy and nerve repair. **Pharmaceutical adjacency, not a verified neural device/interface investment.** | Taiwania co-led **$30 million Series A, 2020-03-25**. [Transaction adviser Locust Walk](https://www.locustwalk.com/regenacy-case-study/ ) (undated) independently confirms its client financing and attribution; [Global Venturing, 2020-03-26](https://globalventuring.com/blog/2020/03/26/regenacy-regulates-30m-series-a/ ) verifies round and indications. |
| **Frequency Therapeutics** | Regenerative small-molecule therapies for sensorineural hearing loss; sensory/neuroscience biotech adjacency, not BCI or neurostimulation hardware. | Taiwania and Axil led **$42 million Series B, 2019-01-07**, [company release syndicated by FirstWord](https://firstwordpharma.com/story/4718135 ), corroborated by [Drug Delivery Business, same date](https://www.drugdeliverybusiness.com/frequency-therapeutics-raises-42m-for-hearing-regeneration-drug/ ). Taiwania also participated in **$62 million Series C, July 2019**, [Fierce Biotech, 2019-07-23](https://www.fiercebiotech.com/biotech/frequency-bags-62m-to-advance-astellas-partnered-hearing-loss-drug ). |
| **AnnJI Pharma** | Neurological drug development; pharmaceutical adjacency. | [Official company investor disclosure](https://www.ajpharm.com/news/index/8/151?lang=en ) names Taiwania among backers; official Taiwania portfolio assigns Fund II. Exact round, investment date and amount missing. The page publication date was not established reliably. |
The portfolio also lists **SyneuRx** (CNS drugs) and **XGene** (neurological drug technology), Fund II; these are additional pharmaceutical-adjacent leads, with round/date/amount and investee confirmation not yet checked. No verified BCI, implanted neural recording or electrical neuromodulation investment was established in the sources checked. This does not imply such investments do not exist.
## Uncertainties and concrete later review notes
1. Preserve exact firm ID `TaiwaniaCapital`; do not conflate the manager with individual Buffalo, CEE, Hive or TaiAx fund entities.
2. Review existing AEye participation 60631 / round 29415: Adex labels the transaction Series A and `isLead: false`, while official firm evidence identifies Series B leadership. Its $40 million field appears to describe a round total, not Taiwania's check; the filing provides separate approximately $7 million participation evidence.
3. Add MedRhythms as a candidate verified portfolio relationship only after checking Adex for duplicates and obtaining transaction details. Never copy the July 2021 round into Taiwania's record without attribution evidence.
4. Fund VI name/size mapping, Fund VII amount, newer closings and current AUM require further official confirmation. Keep targets, budgets, AUM and checks separate.
5. NFX team affiliation/check figures may be stale; do not populate firm-wide checks from one manager profile.
6. Neuro-related pharmaceutical investments should be explicitly categorized separately from direct neurotechnology. FIGUR8's musculoskeletal sensors and Surglasses' surgical navigation were baseline leads, not independently verified neural investments here.
7. Most baseline investments were not fully re-audited; the selected verified examples are enough to establish deep-tech history, not a complete deal ledger. No code or database changes were made, so runtime tests were not applicable. SHOW MORE
team@apexlogos.ai · 7 hours ago
Match research 2026-10-06 / TaiwaniaCapital / sha256:bdbc196c20418bbe326f3191c1025bf346b026931c5412567634c93f9073d81a / part 1 of 2
Imported completed research. Baseline Adex/Signal statements describe prior state, not independent verification. Retain cited attribution, date, currency and classification caveats.
# Taiwania Capital
- Exact Adex ID: `TaiwaniaCapital`
- Adex webpage: https://adex.page/firms/TaiwaniaCapital
- Research date / all sources accessed: **2026-10-06**
- Status: research handoff completed; **no Adex updates performed**.
Taiwania Capital Management Corporation is a Taiwan-based technology and life-science investor established in August 2017. Verified prior investments span sensors, composites, robotics, displays and neurorehabilitation. **MedRhythms is a verified direct neurotechnology portfolio company**, while Regenacy, Frequency Therapeutics and AnnJI are neuro-related pharmaceutical investments requiring separate classification. Establishment date is supported by the firm's [2021-09-25 announcement](https://www.taiwaniacapital.com/en/news/category/news/2021/news210925 ); public/private sponsorship is supported by the [National Development Council](https://www.ndc.gov.tw/EN/cp.aspx?n=4BEEF51EB5F1EC40&s=254B0D7FCF14547D ) (undated).
## Starting evidence: Adex MCP and NFX Signal
The exact-ID read-only MCP Search result was retrieved at 2026-10-06T19:28:52Z from `http://localhost:3000/mcp` , using Org search for Taiwania Capital with Match label. The snapshot is `data/research/_sources/TaiwaniaCapital.adex.json`. It describes early-to-growth technology and biotech investments across Taiwan, the US, Japan and Southeast Asia. Its investor profile has no check minimum, maximum or sweet spot. Named historical records include AEye, ARRIS, Oculii, Light Field Lab, Photoneo, DSP Concepts, FIGUR8, Frequency Therapeutics, Regenacy Pharmaceuticals, Surglasses, Orqa and Skeleton Technologies. These are starting claims; only the subset below has been independently checked in this task. Goldilocks-derived and imported reporting claims are not treated as verification.
The baseline links to [NFX Signal firm profile](https://signal.nfx.com/firms/taiwania-capital ). Direct access failed with an internal/access error. A related [Le Nguyen Signal profile](https://signal.nfx.com/investors/le-nguyen_1 ) was directly readable: it lists an investment manager at Taiwania Capital, a $500,000–$2 million range and $1 million sweet spot, with seed/Series A rankings including hardware. **These are individual profile claims, not a verified firm-wide check range or present mandate**; employment dates are not established. Signal investor lists also index Taiwania, but provide no verified fund size.
## Fund size and investment stages
Amounts below are USD unless stated. This is a multi-fund manager: there is no defensible single “fund size.” The [official Funds page](https://www.taiwaniacapital.com/en/funds ) is undated; its reported sizes do not automatically mean a newly announced final close.
| Fund / program | Reported amount | Date and status |
|---|---:|---|
| Fund I, IoT/technology | $150 million | Official 2021-09-25 announcement and current Funds page; established fund. NDC separately confirms NTD4.65 billion closing on 2017-12-22. |
| Fund II, biotech | $200 million | Official 2021-09-25 announcement; current Funds page repeats size. Vintage/final-close date not established. |
| Fund III, medtech | $59 million | Same official sources; vintage/final-close date not established. |
| Fund V, early-stage technology | $56 million | Named and sized in 2021-09-25 announcement; current page repeats size. Final-close date not established. |
| Additional technology fund, likely Fund VI | $200 million | Current Funds page describes edge/5G, EV and semiconductors. Fund heading is an image omitted from browser text; exact name/amount mapping needs visual confirmation. Do not write this mapping as certain. |
| Central and Eastern Europe Investment Fund | $200 million deployment program | Managed since March 2022; official page states stage-agnostic equity investing. A committed investment budget, not evidence of a conventional private fund close. |
| TaiAx Life Science Fund L.P. | **$200 million target** | [Official launch, 2024-08-27](https://www.taiwaniacapital.com/en/news/category/news/2024/news240827 ). Joint venture with Axil Capital. No final-close amount verified. |
| Southeast Asia fund with Hive Ventures | **$100 million target** | Current Funds page; no final close verified. |
The 2021 firm announcement reported **$490 million AUM**, an historical manager aggregate distinct from individual funds; it does not equal the sum of the rounded fund figures exactly. Do not use it as current AUM. Searches for 2025/2026 fund announcements did not establish a newer final close. The [official portfolio](https://www.taiwaniacapital.com/en/portfolios/category ) includes Fund VII investments, so this table is not an exhaustive inventory and Fund VII's size remains missing.
**Stages:** the official 2021 announcement explicitly covers seed through growth stages. The current Funds page explicitly focuses Fund V on early startups and CEE on all stages. TaiAx's 2024 launch explicitly supports early-stage startups/emerging companies. Historical A/B/C rounds below corroborate range, but do not establish identical current mandates for every fund.
## Verified previous deep-tech investments
These are concrete historical examples, not a claim of exhaustive portfolio coverage. Amounts are whole rounds unless explicitly stated otherwise.
| Company | Technology rationale and Taiwania attribution | Round / date / supporting source |
|---|---|---|
| **AEye** | Lidar/perception hardware for autonomous systems; firm confirms it led the Series B. | Series B, late 2018: [Taiwania, 2021-09-25](https://www.taiwaniacapital.com/en/news/category/news/2021/news210925 ). [AEye securities filing, 2021](https://investors.aeye.ai/static-files/7d36b3a2-9e61-439a-a8fb-885c7b086396 ) reports approximately $43 million aggregate financing over 2018-10-31 to 2019-12-18 and approximately **$7 million** purchased by Taiwania Capital Buffalo Fund. This later aggregate should not be conflated with the initial $40 million announcement in Adex. |
| **ARRIS Composites** | Advanced materials/manufacturing: patented Additive Molding for continuous-fiber thermoplastic composites. Taiwania participated. | **$88.5 million Series C, 2021-11-09**, [official company release](https://arriscomposites.com/arris-series-c-funding/ ); technology corroborated by [company About](https://arriscomposites.com/about/ ) (undated). |
| **Light Field Lab** | Holographic/light-field display hardware without headsets; Taiwania and Bosch co-led. | **$28 million Series A**, [official Taiwania release, 2019-08-14](https://www.taiwaniacapital.com/tw/news/category/news/2019/news190814 ). Independent confirmation: [TechCrunch, 2019-08-12](https://techcrunch.com/2019/08/12/light-field-lab-raises-28-million-to-rethink-the-3d-tv/ ). |
| **Photoneo Brightpick Group** | Robotic vision sensors, patented 3D imaging and autonomous warehouse robots. Taiwania led the extension. | **$19 million additional financing completing $40 million Series B, 2023-01-17**, [official investee announcement](https://www.photoneo.com/photoneo-brightpick-group-raises-additional-19-million-to-complete-40-million-series-b/ ). |
| **Oculii** | Radar perception software/4D imaging sensing for autonomous systems; Taiwania participated. | **$55 million Series B, 2021-05-06**, [company-issued GlobeNewswire release](https://www.globenewswire.com/fr/news-release/2021/05/06/2224494/0/de/oculii-erh%C3%A4lt-in-series-b-finanzierungsrunde-55-millionen-usd-um-die-zukunft-autonomer-systeme-mit-ki-gest%C3%BCtztem-radar-voranzutreiben.html ). |
| **Skeleton Technologies** | Physical power/energy technology for AI infrastructure and grids; official company confirms Taiwania investment partnership. | **2026-02-28**, amount/round undisclosed in [official announcement](https://www.skeletontech.com/news/skeleton-technologies-and-taiwania-capital-announce-strategic-investment-partnership-to-strengthen-sovereign-ai-infrastructure ). Adex's separate May 2026 pre-IPO round claim was not verified here. |
## Previous neurotech and neuro-related investments SHOW MORE
team@apexlogos.ai · 22 days ago
MATCH 
Bosch Ventures
Arris$— · 2024
Light Field Lab$28M · 2019-08-12
Supernova.io$9M · 2025-09-30
Photoneo$40M · 2023-01-17
Darren Liccardo
Oculii$55M · 2021-05-06
Eclipse
DataPelago$47M · 2024
Kaya VC
Khosla Ventures
Movens Capital
Sky Engine Ai$7M · 2024-01-17
Vijit Sabnis
Vinod Khosla
Wing Venture Capital
Y Combinator
