Sun Microsystems has launched a $US50 million investment program targeted at early to mid-stage Internet startups in the Asia-Pacific region, in an effort to expand its investment focus in the region, the company said Tuesday.
Including additional investments from local venture capital partners, the Sun Asia-Pacific Venture Investment Program is expected to provide a total of $US250 million in investment capital, Sun said in a statement. The program is an extension of the $US400 million investment fund previously announced by Sun, which the company said had primarily focused on North American companies.
The Asia-Pacific program's focus will be on Internet and communications startups, Sun said, as well as electronic commerce enabling technologies and products that expand the market for Sun's own offerings.
Sun said the investments will be complementary to the "millions of dollars" the company already has provided in operational support to startups in the region through its iForce and Developer.com programs.
Discussions with local venture capital groups in countries including Australia, Japan, South Korea and Taiwan are planned to start immediately, with other countries to follow, the company said.